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Indonesia Retail November 2023

Indonesia: Retail sales growth speeds up in November

Retail sales expanded 2.9% compared to the same month of the previous year in November, which was above October’s 2.4% increase. November’s figure marked the best reading since June. The rise was largely driven by an improvement in food, beverages, and tobacco sales, coupled with a softer fall in information and communication equipment sales. In contrast, motor vehicles, parts and accessories sales lost steam. Lastly, cultural and recreation goods sales dropped at a sharper rate.

Meanwhile, the trend improved slightly, with the annual average growth of retail sales coming in at 1.6% in November, up from October’s 1.4% reading.

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