Indonesia First-Quarter Growth Beats Estimates as Risks Loom
- Holiday spending, cash aid spur economy’s growth to 5.11%
- Consumption and investment helped offset sluggish exports
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Indonesia’s economy expanded faster than expected last quarter as holiday festivities and the government’s cash handouts supported consumer spending, even as risks loom over the outlook from slowing global demand and geopolitical uncertainties.
Gross domestic product rose 5.11% in the three months through March from a year ago, according to the statistics office on Monday. That was quicker than the median forecast of 5.08% growth seen by economists in a survey and marks the fastest first-quarter pace in a decade, based on data compiled by Bloomberg.