Indonesian growth slows in second quarter / Photo: YASUYOSHI CHIBA - AFP
-
Vessel operator seeks witnesses after Vancouver grounding
-
Bezos grant helps Seattle nonprofit move thousands of families toward housing
-
Shrini Srivastava joins crew of Varanasi-Delhi Vande Bharat Sleeper service
-
US stocks fall before midterm Election Day as technology shares weaken
-
Nearly Half of Australian Workers Overqualified, Survey Finds
-
BLS Polymers makes strong market debut at ₹248 per share
-
RBI eases export-declaration compliance for individual service exporters
-
Petrol and diesel prices remain broadly steady across major Indian cities
-
Reliance shares remain in focus after near-12% surge
-
Derek Tierney Outlines Ten-Year Strategy for National Digital Health System
-
Coal India prepares possible $1 billion Mahanadi Coalfields listing
-
BLS Polymers shares open 65.3% above IPO price
-
Capital-markets shares rally as Motilal Oswal and Angel One lead gains
-
ITC shares rise as analysts anticipate gradual cigarette-business recovery
-
Reliance rally puts historical one-year return pattern in focus
-
The Digital Burden: Why Instant Messaging Feels Like a Full-Time Job
-
Saudi Aramco quarterly profit climbs 34.6% amid elevated oil prices
-
Korea’s Labor Share of GDP Hits Record Low Amid Semiconductor Boom
-
Australia raises benchmark rate to highest level in 18 years
-
littlefish and Halo Dot Partner to Replace Payment Terminals with SoftPOS
-
Asian stocks retreat as AI worries outweigh steep oil-price drop
-
Egypt Accelerates Construction of 341km Sinai Railway Linking Arish and Taba
-
Hamad International Airport stages emergency drills during WATAN 2026
-
Web Summit Qatar 2026 generated QR1 billion economic impact, report says
-
Qatar solar expansion opens scope for technical performance gains
Indonesian growth slows in second quarter
Indonesia's economy grew more slowly in the second quarter of 2024 despite being supported by spending on religious holidays and increased household consumption, the country's statistics agency said on Monday.
Growth in Southeast Asia's largest economy was 5.05 percent in the second quarter, slightly lower than the previous quarter's 5.11 percent, Statistics Indonesia said.
"The economic growth is also lower compared to the second quarter of 2023," Statistics Indonesia deputy head, Mohamad Edy Mahmud told a press conference.
Despite the lower growth, Statistics Indonesia insisted the domestic economy is relatively robust and stable -- but some economists doubted the country can maintain such growth.
"We don’t have much faith in the official data," said Gareth Leather, senior Asia economist at Capital Economics.
"We don't think this recovery will last. We expect growth to slow over the coming months."
Indonesia's central bank earlier this year announced a surprise interest rate hike to 6.25 percent, the highest for seven years, to support the rupiah, which had weakened against the dollar.
X.Wong--CPN