Indonesian retail sales growth slower as expected
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Indonesian retail sales growth in November slowed to 1.3 percent year-on-year, well below October’s rate of 3.6 percent.
However, the figures, released by Bank Indonesia, reflect the continuing uptick in Indonesian retail sales which has now lasted five consecutive months.
“Retail sales continued to grow positively in November,” wrote the central bank in a statement, “although it slowed compared to sales in the previous month”.
Indonesia retail sales growth is expected to slow in the coming months, however, with declines recorded in several metropolitan areas surveyed – a harbinger of growth expected for December.
Sales declined in the cities are projected to flow on from the estimated contractions of 9.4 percent and 4.8 percent over the previous period.
The bank’s survey revealed respondents believe retail sales will decline over the next quarter.
Questions & Answers
Q.What was the retail sales growth rate in Indonesia for November?
What was the retail sales growth rate in Indonesia for November?
Indonesian retail sales growth in November was 1.3 percent year-on-year. This marked a slowdown compared to the 3.6 percent growth rate recorded in October.
Q.What is the outlook for Indonesian retail sales growth in the coming months?
What is the outlook for Indonesian retail sales growth in the coming months?
Retail sales growth is expected to slow in the coming months. Survey respondents believe sales will decline over the next quarter, with declines already recorded in several metropolitan areas.
Q.How long has the positive trend in Indonesian retail sales been ongoing?
How long has the positive trend in Indonesian retail sales been ongoing?
The positive trend in Indonesian retail sales has now lasted five consecutive months. This reflects a continuing uptick, despite the slower growth rate seen in November.
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