Indonesia's Economy Surpasses Expectations with 5.11% Growth in Q1

Indonesia Q1 Growth: Data released by Indonesia's statistics bureau revealed that country's economy expanded by 5.11% in first quarter compared to previous year, outpacing economists' forecasts. Analysts surveyed by Reuters h anticipated a growth rate of 5 per cent for January-March period. This acceleration follows 5.04 per cent annual growth recorded in fourth quarter.

However, on a quarterly basis and without seasonal justments, Indonesia's gross domestic product (GDP) experienced a marginal contraction of 0.83 per cent in first quarter. While this decline contrasts with annual growth trend, it is less severe than 0.89 per cent contraction forecasted by Reuters poll, suggesting a degree of resilience and aptability in face of short-term fluctuations.

stronger-than-expected performance in annual growth underscores Indonesia's capacity to navigate through economic hewinds, buoyed by robust fundamentals and strategic policy measures. As country continues to chart its path towards recovery and sustainable growth, analysts will closely monitor key indicators and policy developments to gauge trajectory of Indonesia's economy in coming quarters.

With Reuters Inputs