Indonesia: Retail sales growth moderates in October
November 10, 2022
Retail sales expanded 4.5% in year-on-year terms in October, which followed September's 4.6% increase. October's downturn was largely driven by contractions in motor vehicles, parts and accessories and automotive fuels sales. However, food, beverages, and tobacco sales increased. Lastly, cultural and recreation goods sales moderated, while information and communication equipment sales declined at a softer pace than in September.
Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at 8.0%, down from September's 8.2% reading.