Indonesia: Retail sales deteriorate in November
Retail sales plunged 16.3% in November (October: -14.9% yoy). The sharper drop was largely driven by a deterioration in food, beverages, and tobacco sales as well as in information and communication equipment sales. Meanwhile, motor vehicles, parts and accessories sales and cultural and recreation goods sales continued to fall at a sharp pace.
Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 10.3%, down from October’s minus 8.9%.