Indonesia October retail sales up 17.6% year-on-year
[JAKARTA] Indonesia's annual retail sales in October grew at a slightly slower pace of 17.6 per cent compared with 17.9 per cent in September, due to weaker demand for cultural and recreational goods, a Bank Indonesia survey showed on Tuesday.
The survey of 650 retailers in 10 major cities showed that retail sales on a yearly basis were expected to continue to slow until November, even though retail sales growth would rise on a monthly basis.
The survey also said that price pressures in the next three months would heighten on concerns over an increase in state-set fuel prices and prices of goods from distributors.
It also showed that businesses expect sales growth, on an annual basis, to slow in April, due to softer demand.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Putin plans to meet Xi in China days after his new term starts
Biden vetoes bid to repeal US labour board rule on contract, franchise workers
Economic leaders of South Korea, Japan, China say FX volatility is a risk
US automakers win extension on use of Chinese graphite in EV tax credits
US service sector contracts in April; price pressures up
Thaksin’s daughter calls central bank independence an ‘obstacle’