Indonesia: Retail sales growth gains steam in October
Retail sales grew 1.8% in year-on-year terms in October, which followed September’s 1.5% increase. The improvement came on the back of upturns in sales of food, beverages, and tobacco and motor vehicles, parts and accessories. However, cultural and recreation goods sales declined at a sharper rate, and information and communication equipment sales dipped at a steeper pace than in the prior month as well.
Meanwhile, annual average retail sales growth fell to 1.4% in October (September: +1.5%), signaling a slightly worsening trend in the retail trade sector.