Indonesia: Retail sales growth drops to six-month low in October
Latest reading: Retail sales grew 1.0% year on year in October (September: +4.8% yoy). The result marked the worst reading since April. October’s notable downturn came on the back of slowing sales of food, beverages, and tobacco and automotive fuels. Additionally, information and communication equipment sales dipped at a steeper pace than in the prior month. That said, cultural and recreation goods sales rose at a stronger rate.
Meanwhile, annual average retail sales growth fell to 3.0% in October (September: +3.1%), signaling a worsening trend in the retail trade sector.