Indonesia retail sales continue to slow
Indonesia retail sales slowed to an ambulatory 4.3 per cent in December.
That’s well down on the 11.4 per cent of November, a figure revised down from an early projection of 14.1 per cent by the Bank of Indonesia.
The bank said the year-on-year growth rate slowed due to poor sales of household utensils, cultural and recreational goods and of spare parts and accessories.
The Bank of Indonesia bases its figures on a survey of 650 retailers in 10 major cities. IT predicts a further easing in the next quarter before demand picks up in June, during Ramadan fasting.
The bank also said it expects inflation to ease, largely due to falling fuel prices.
December’s figure was well down on October’s 17.6 per cent and September’s 8.9 per cent.