the pace of indonesias economic growth slowed in the fourth quarter as government spending fell the southeast asian economy grew 501 in the fourth quarter compared with the same period a year earlier indonesias official statistics agency said monday expansion slowed from the 572 growth in the previous quarter and was slightly over the median estimate for 495 growth from a wall street journal poll of six economists most business sectors grew during the fourth quarter led by the processing industry said margo yuwono the head of indonesias statistics agency the economy was weighed by a 48 on year fall in goverment spending in the quarter the countrys gross domestic product expanded 036 compared with the previous quarter he added indonesias economy grew 531 in 2022 the statistics agency head said the result was sharply higher than 2021s 369 expansion this was mostly because indonesias 2022 trade surplus was 54 higher from 2021s due to a windfall from higher commodity prices in 2022 he said bank indonesia had forecast the economy would grow between 4553 in 2022