07 Nov '11, 8am

Indonesia economy rises 6.5% in Q3, aided by spending

JAKARTA: Indonesia's economy grew 6.5 percent in the third quarter from a year earlier, buoyed by domestic consumption and private investment, the Central Statistics Agency said Monday. That marked a slight slowdown from second-quarter growth, which the agency revised up Monday from 6.49 percent to 6.52 percent. "Growth in Indonesia has slowed in line with the global economic slowdown, so exports have declined. But domestic consumption growth is still high, so we've been able to maintain relatively good growth," said the agency's statistical analysis deputy Slamet Sutomo. "An increase in private investment has pushed the domestic economy and has helped improve infrastructure." Indonesia's economy is Southeast Asia's biggest and among the fastest-growing in the world, with rich reserves of natural resources and a thriving domestic market of 240 million people. "Indonesia's ...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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