Indonesia retail sales growth rebounds
Indonesia retail sales rose 10.2 per cent year on year in November, according to data from Bank Indonesia.
The rise followed a lesser 8.7 per cent growth in October, a figure revised downwards by 0.1 per cent this week.
But the bank predicts weaker growth in December – as little as 6.7 per cent – with retailers pessimistic despite expectations of increasing sales of recreational goods, cultural items and parts and accessories.
Bank Indonesia surveys 700 retailers in 10 cities to compile the monthly trend data.
Food, beverages and tobacco were the major drivers of November’s growth.
The bank said the survey expected price pressures will cool off over the next three months.