Indonesia: Retail sales and industrial production slow in November
January 10, 2012
In November, real retail sales expanded 26.6% over the same month the year before according to Bank Indonesia's Retail Sales Survey (RSS). The reading was below the 30.7% increase registered in October but still marked the 27th consecutive month of double-digit growth. Clothing and construction materials sales led the expansion in November. As a result of the monthly expansion, annual average growth increased from 21.3% in October to 22.0% in November. According to the survey, retailers expect short-term sales (3 to 6 months ahead) to increase, which implies sustained growth in private consumption going forward. Meanwhile, industrial production expanded 5.0% in November, which was below October's 6.0% increase. Annual average growth remained stable at 5.5% in November.