Indonesia retail sales grow 8.8% y/y in October: BI survey

[JAKARTA] Indonesia's retail sales in October grew 8.8 per cent from a year earlier, a Bank Indonesia survey showed on Tuesday.

September annual retail sales growth was revised to 7.1 per cent from the previously reported 7.2 per cent.

The 700 retailers in 10 major cities surveyed said sales of food, beverages and tobacco bolstered October's retail sales growth.

The survey also predicted that November retail sales growth would be higher, topping 11 per cent, because of stronger sales of both food and non-food items.

Respondents say they expected sales in January 2016 would be weaker than those for December, which should be aided by year-end discount programmes.

REUTERS