Indonesia: Growth in retail sales moderates in October
December 9, 2016
Retail sales in October expanded 7.6% on a year-on-year basis, below September’s revised figure of 10.6% (previously reported: 6.6%), according to Bank Indonesia’s Retail Sales Survey (RSS). According to the Bank, October’s deceleration was driven mainly by slower growth in sales of food, beverages, tobacco and household equipment.
Annual average growth in retail sales was 11.0% in October, virtually mirroring September’s 11.1% rise. According to the survey, retailers expect sales to pick up slightly in November and post 7.9% growth.
Author: Oliver Reynolds, Economist