Indonesia: Retail sales growth gains steam in November
Latest reading: Retail sales grew 1.7% in year-on-year terms in November, which was above October’s 1.5% increase. Looking at the details of the release, November’s pickup was due to the food, beverages, and tobacco, motor vehicles, parts and accessories, and automotive fuels sub-sectors all gaining steam. Moreover, cultural and recreation goods sales decreased at a sharper rate, while information and communication equipment sales contracted at a steeper pace than in October.
Meanwhile, annual average growth of retail sales was 3.0% in November, mirroring October’s result.