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Household consumption fuels Indonesian growth
Household spending, which accounted for more than half of GDP growth in the second quarter, grew 5.14 percent, higher than the 4.95 percent booked over the corresponding period last year.
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Visitors are seen visiting a shopping mall in Central Jakarta during the election Day on April 19. (JP/dra)
A
s President Joko “Jokowi” Widodo is running for a second term in 2019, he may be pinning his hopes on Indonesia’s consumers, who have become the country’s engine for economic growth in the second quarter this year.
The country’s gross domestic product (GDP) expanded by 5.27 percent year-on-year (yoy) during the second quarter of 2018, the highest rate growth during Jokowi’s era.
The second-highest GDP growth under Jokowi’s administration was in the second quarter of 2016, when the figure reached 5.21 percent yoy.
Household spending, which accounted for more than half of GDP growth in the second quarter, grew 5.14 percent, higher than the 4.95 percent booked over the corresponding period last year.
