Economy

Indonesia's GDP growth accelerates to 5.11%, beats economist forecasts

Consumption climbs 4.91%, buoyed by spending during mammoth elections

20240503 Indonesia Ramadan

People wait to break their fast during the holy month of Ramadan in Jakarta on March 13: Household spending lifted Indonesia's economy in the first quarter, the central bank said. © Reuters

NANA SHIBATA and ERWIDA MAULIA, Nikkei staff writers
May 6, 2024 13:49 JST

JAKARTA -- Indonesia's economy grew 5.11% on the year in the January to March quarter, up from a 5.04% expansion in October to December last year, the country's statistics agency said Monday.

The median growth forecast of economists polled by Reuters was 5% for the first quarter.

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