Indonesia Q4 GDP growth below 5 per cent on cooled consumption, govt spending

Jakarta: Indonesia’s gross domestic product grew 4.94 per cent in the fourth quarter to mark the slowest pace since the opening three months of last year, as household consumption cooled and government spending contracted, data showed on Monday. Southeast Asia’s largest economy also faces uncertainty surrounding US policies under President Donald Trump and in one of its other main trading partners China, even as a spate of interest rate cuts last year should start to pay dividends by supporting investment. Indonesia’s economy grew 4.94 per cent on an annual basis in October-December, data from the statistics bureau showed, compared with 5.01 per cent in the preceding quarter. The growth rate was below the median forecast of a Reuters poll of 5.07 per cent.