India, May 6 -- Indonesia's economy grew more than expected in the first quarter on robust government spending, official data revealed on Monday.
Gross domestic product posted an annual growth of 5.11 percent in the first quarter after rising 5.04 percent in the fourth quarter of 2023. GDP was expected to grow 5.0 percent.
Quarter-on-quarter, GDP dropped 0.83 percent in the first quarter compared to economists' forecast of 0.89 percent fall. On the expenditure-side, household consumption increased 4.91 percent. At the same time, government spending logged a double-digit growth of 19.9 percent.
At 3.79 percent, increase in investment remained subdued. Exports gained only 0.5 percent and imports moved up 1.77 percent in the first quarter....