Indonesian economy grows 5.02 percent in 2016

Indonesia's gross domestic product (GDP) expanded 5.02 percent in 2016, rising from 4.88 percent in 2015, the national statistics bureau said Monday.

According to the bureau's press release, the country's GDP expanded 4.94 percent in the fourth quarter of 2016 as consumption and government spending eased, falling from 5.01 percent registered in the previous quarter.

Household consumption, contributing more than a half to the growth, dropped 4.99 percent in the October-December period from a year earlier, and government spending was down 4.05 percent in the quarter, according to the government data.

Indonesia economy accelerated 4.92 percent in the first quarter, and 5.18 percent in the second quarter. Endit