Indonesia: Retail sales record slowest expansion since September 2021 in November
Retail sales expanded 1.6% compared to the same month of the previous year in November, which followed October’s 3.7% increase. The outturn marked the worst reading since September 2021. November’s reading was partly driven by a deterioration in food, beverages, and tobacco sales, as it expanded at the slowest pace since March 2021. In addition, motor vehicles, parts and accessories sales weakened. Lastly, cultural and recreation goods sales accelerated, while information and communication equipment sales decreased at a softer pace than in October.
Meanwhile, annual average retail sales growth fell to 7.1% in November (October: +7.9%), signaling a worsening trend in the retail trade sector.