Indonesia retail sales growth rebounds
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Indonesia retail sales rose 10.2 per cent year on year in November, according to data from Bank Indonesia.
The rise followed a lesser 8.7 per cent growth in October, a figure revised downwards by 0.1 per cent this week.
But the bank predicts weaker growth in December – as little as 6.7 per cent – with retailers pessimistic despite expectations of increasing sales of recreational goods, cultural items and parts and accessories.
Bank Indonesia surveys 700 retailers in 10 cities to compile the monthly trend data.
Food, beverages and tobacco were the major drivers of November’s growth.
The bank said the survey expected price pressures will cool off over the next three months.
Questions & Answers
Q.What contributed most to the increase in retail sales during November?
What contributed most to the increase in retail sales during November?
Sales of food, beverages, and tobacco were identified as the primary factors driving the growth in Indonesia's retail sales figures for November. These categories significantly influenced the overall 10.2 per cent rise.
Q.What is the expected growth rate for retail sales in December?
What is the expected growth rate for retail sales in December?
Bank Indonesia anticipates a weaker retail sales growth for December, projecting it to be as low as 6.7 per cent. This forecast reflects a pessimistic outlook from retailers despite some sectors expecting increased sales.
Q.How does Bank Indonesia collect its retail sales data?
How does Bank Indonesia collect its retail sales data?
Bank Indonesia compiles its monthly trend data by conducting surveys among 700 retailers across 10 different cities. This extensive survey forms the basis for their assessment of retail sales performance.
Q.What is the outlook for price pressures in the coming months?
What is the outlook for price pressures in the coming months?
The bank's survey indicates an expectation that price pressures are likely to ease over the next three months. This suggests a cooling trend in inflation as perceived by retailers.
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