Indonesia: Retail sales grow at fastest pace since May in November
Retail sales increased 10.9% year-on-year in November (October: +6.5% yoy). November’s print marked the strongest increase since May. The reading reflected a broad-based improvement, with activity in the food, beverages, and tobacco, motor vehicles, parts and accessories and automotive fuels sub-sectors all improving in November. Lastly, cultural and recreation goods sales declined at a sharper rate, while information and communication equipment sales decreased at a softer pace than in October.
Meanwhile, the trend improved significantly, with the annual average variation of retail sales coming in at an over one-year high of minus 2.9% in November, up from October’s minus 5.1% reading.