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Indonesia Dec retail sales grow 10.4% y/y: central bank survey

[JAKARTA] Indonesia's retail sales in December grew 10.4 per cent from a year earlier, in line with demand during Christmas, New Year and year-end holidays, a Bank Indonesia survey showed on Wednesday.

November annual retail sales growth was revised to 9.7 per cent from the previously reported 10.2 per cent.

The 700 retailers in 10 major cities surveyed said sales of vehicle fuel and household equipment bolstered December's retail sales.

The survey also predicted stronger January retail sales growth of up to 11.7 per cent, led by information and telecommunication equipment.

Respondents were more pessimistic over retail sales in the next three months than in December, but the survey did not say why.

Retailers expected price pressures would be lower in March.