Indonesia: Retail sales record slowest growth since May in December
Retail sales expanded 0.1% year on year in December, which was a deterioration from November’s 2.1% increase. The figure marked the worst reading since May. Looking at the details of the release, motor vehicles, parts and accessories sales grew at a softer pace, and sales of cultural and recreation goods and of information and communication equipment declined at sharper rates. However, food, beverages, and tobacco sales gained steam in December.
Meanwhile, annual average growth of retail sales was unchanged at November’s 1.5% in December, pointing at a stable long-term trend.