ECONOMY | Staff Reporter, Indonesia

Indonesian GDP growth still at 5%

Its communications business field improved the most at 10.9%.

Indonesia's GDP growth for Q2 plateaued at 5% YoY, similar to Q1's rate.

According to Badan Pusat Statistik, the current GDP based on current prices reached Rp3,388.8t.

Among all business fields, the country's Communication Business posted the highest improvement by 10.9%. In terms of expenditure, consumption of Non-Profit Institutions Serving Household (PK-LNPRT) had higher spending by 8.5%.

On a quarter on quarter basis, the Indonesian GDP increased by 4%.

Agricultural, Forestry and Fishery Fields were the most productive as they posted a growth of 8.4%. On the expenditure side, the Government Consumption Consumption component rose by 29.4%.

Standard Chartered senior economist Aldian Taloputra commented, "We expect growth to pick up in H2 on a normalisation in the number of working days, stable inflation, progress on infrastructure projects, fiscal expansion, and still relatively strong exports. Some forward-looking indicators point to a positive trend in H2, including rising consumer confidence, stabilising loan approvals and healthy VAT receipts."

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