Indonesia GDP Growth Rate

Indonesia's economy grew 0.53% qoq in Q4 of 2024, compared with market consensus of 0.56% and after a 1.5% increase in Q3. It was the third straight quarterly growth but the softest in the sequence, amid a sharp slowdown in fixed investment (2.44% vs 8.35% in Q3). Meanwhile, private consumption recovered (1.64% vs -0.48%), boosted by spending related to year-end, as did government expenditure (38.58% vs -1.17%). On the trade front, exports (4.63% vs 7.78%) and imports (3.23% vs 9.37%) slowed, on weaker demand both globally and domestically. Production-wise, activity slowed for mining (3.25% vs 5.62%), manufacturing (0.68% vs 4.24%), utilities (1.07% vs 3.42%), and construction (4.19% vs 6.06%). In addition, output shrank for agriculture (-18.49% vs 0.1%) and financial services (-0.91% vs -1.81%). By contrast, activity quickened for transport (1.47% vs 0.98%) and accommodation (2.88% vs 0.4%) while rebounding for education (14.94% vs -6.41%) and state administration (16.63% vs -16.87%).