Indonesia’s annual economic growth accelerated to 5.12% in the second quarter from 4.87% in the previous three months, official data showed Tuesday.
A Reuters poll had expected growth of 4.80%. The second-quarter growth rate was the fastest since the second quarter of 2023, data from the statistics bureau showed.
On a non-seasonally adjusted, quarter-on-quarter basis, gross domestic product expanded 4.04% in April-June, Statistics Indonesia said.
Ahead of Tuesday’s data, Bank Indonesia, which has cut policy rates four times since September, forecast economic growth would be in a range of 4.6% to 5.4% this year.
Manufacturing helped drive the stronger-than-expected growth, helped by demand for export goods such as palm oil products and base metals as well as domestic demand for pharmaceuticals.
