Indonesia's GDP growth in Q4 slightly better than expectations

INDONESIA - JAKARTA. Indonesia's economy grew more quickly than expected in 2018's fourth quarter and full-year growth was the fastest since 2013, government data showed on Wednesday.

Southeast Asia's largest economy grew 5.18 percent in October-December from a year earlier, the statistics bureau said, compared with 5.11 percent forecast in a Reuters poll and the 5.17 percent rate in the previous three months.

On a quarterly, non-seasonally adjusted basis, gross domestic product (GDP) contracted 1.69 percent, following a usual pattern of shrinkage in the fourth quarter.

In 2018, GDP expanded 5.17 percent from 2017, representing the best growth pace since 2013.

However, that was still below the government's growth target for last year of 5.4 percent and far below the 7 percent level that President Joko Widodo pledged to achieve.