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Economic Growth of North Sumatra in the Third Quarter of 2024

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Release Date	:	November 5, 2024
File Size	:	0.72 MB

Abstract

The economy of North Sumatra in the third quarter of 2024 compared to the previous quarter experienced a growth of 2.25 percent (q-to-q). In terms of production, the highest growth was in the Other Services Business Field at 6.19 percent. In terms of Expenditure, the Consumption Expenditure Component of Non-Profit Institutions Serving Households (PK-LNPRT) was the component experiencing the highest growth of 5.86 percent.

The economy of North Sumatra in the third quarter of 2024 compared to the third quarter of 2023 experienced a growth of 5.20 percent (y-on-y). In terms of production, the Accommodation and Food and Beverage Provision Business Field experienced the highest growth of 12.68 percent. Meanwhile, in terms of expenditure, the highest growth was in the LNPRT Consumption Expenditure Component at 12.11 percent.

Cumulatively up to the third quarter of 2024, the North Sumatra Economy experienced a growth of 5.01 percent (c-to-c). In terms of production, the highest growth occurred in the Accommodation and Food and Beverage Provision Business Field at 11.37 percent. Meanwhile, in terms of expenditure, the highest growth was in the Consumption Expenditure Component of Non-Profit Institutions Serving Households (PK-LNPRT) at 12.60 percent.

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