Indonesia's GDP Growth Accelerates to 5.11%, Beats Expectations [BNN Bloomberg (Canada)]
TC Energy Corporation (TRP)
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Source: BNN Bloomberg
Gross domestic product rose 5.11% in the three months through March from a year ago, according to the statistics office on Monday. That was quicker than the median 5.08% growth seen by economists in a Bloomberg survey. Compared with the previous three months, GDP declined 0.83%, narrower than the estimated 0.86% contraction. Private consumption, which contributes over half of the national output, likely remained the main driver of growth. A government spending spree, including cash aids and salary hike for civil workers, as well as the Ramadan season probably helped. The momentum in the economy provides room for Indonesia's central bank to tighten monetary policy further, if needed, to support the rupiah, which has lost nearly 4% so far this year amid a stronger dollar. --With assistance from Tomoko Sato and Norman Harsono. ©2024 Bloomberg L.P. Top Picks Top Stories TD risks an earnings hit from U.S. laundering probe, analysts say Pipeline operator TC Energy sees na
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- 4/23/24 - Form 6-K
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