Indonesia retail sales drops with 15 procent last October
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Retail sales in Indonesia dropped 14.9% on a yearly basis in October, the biggest fall since June and after an 8.7% fall in September, according to a central bank survey released on Thursday.
Sales of food, beverages and tobacco products contracted in October, after recording positive growth a month earlier, while a drop in sales of communication equipment accelerated, the survey showed.
The survey estimated an even deeper slump in retail sales of 15.7% in November.
Questions & Answers
Q.Which product categories saw a decline in sales during October?
Which product categories saw a decline in sales during October?
Sales of food, beverages and tobacco products contracted in October, having shown positive growth in September. The decline in sales of communication equipment also accelerated during the same period, according to the central bank survey.
Q.How does the October sales drop compare to the previous month?
How does the October sales drop compare to the previous month?
The 14.9% drop in October was significantly larger than the 8.7% fall recorded in September. This makes it the biggest decline observed since June, indicating a worsening trend in retail performance.
Q.What is the forecast for Indonesian retail sales in November?
What is the forecast for Indonesian retail sales in November?
The central bank survey estimates an even deeper slump for November's retail sales. It projects a contraction of 15.7%, which would exceed the decline seen in October.
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