TheJakartaPost

Please Update your browser

Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.

Jakarta Post

Household consumption fuels Indonesian growth

  • Marchio Irfan Gorbiano and Anton Hermansyah

    The Jakarta Post

Jakarta   /   Tue, August 7, 2018   /  08:42 am
The Jakarta Post Image

As 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.

The 5.14 percent private consumption growth in the second quarter marked the first time th...