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FINWIRES

Indonesia's Economy Grows Faster in Q1

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-- Indonesia's economy grew 5.61% year on year in the first quarter, faster than 5.39% in the preceding quarter, according to data from Statistics Indonesia on Tuesday.

Quarterly, the Southeast Asian country's GDP contracted 0.77%.

From the production side, the accommodation and food and beverage services sector posted the strongest growth at 13.14%, while from the expenditure side, government consumption expenditure surged 21.8%.

However, on a quarterly basis, the mining and quarrying sector recorded the deepest contraction at 8.2%, while government consumption also saw the sharpest decline on the expenditure side at 30.1%, the data showed.

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