Indonesian retail sales growth slows
Indonesian retail sales growth in November slowed to 1.3 per cent year-on-year, well below October’s rate of 3.6 per cent.
However, the figures, released by Bank Indonesia, reflect the continuing uptick in Indonesian retail sales which has now lasted five consecutive months.
“Retail sales continued to grow positively in November,” wrote the central bank in a statement, “although it slowed compared to sales in the previous month”.
Indonesia retail sales growth is expected to slow in coming months, however, with declines recorded in several metropolitan areas surveyed – a harbinger of growth expected for December.
Sales declines in the cities are projected to flow on from the estimated contractions of 9.4 per cent and 4.8 per cent over the previous period.
The bank’s survey revealed respondents believe retail sales will decline over the next quarter.