Robust investment boosts Indonesia Q2 growth 6.4%, beating forecasts
Published on Aug 6, 2012 7:01 PM
JAKARTA (AFP) - Indonesia on Monday said its economy grew a faster-than-expected 6.4 per cent in the second quarter from a year ago, buoyed by robust domestic demand and investment.
Private consumption increased 5 per cent year-on-year, government spending rose 7 per cent, while investment climbed 12.3 per cent, said Mr Suryamin, the head of the Central Statistics Agency.
The data should help alleviate concerns about South-east Asia's largest economy which posted a 6.3 per cent on-year expansion in the first quarter from 6.5 per cent in the previous quarter.
The strong growth came even as the global downturn has hit Indonesia's exports, with the country recording its largest monthly trade deficit of US$1.3 billion in June.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!