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Financial News: Indonesia Retailers Expect Sales To Rise At Slower

Indonesia Retailers Expect Sales To Rise At Slower Rate

01/10/2023 - 01:51:00 (RTTNews)

(RTTNews) - Indonesia's retail sales continued its expanding trend in November, led by better demand for information and communication equipment, and retailers expected sales to maintain a slight positive growth momentum in December, results of a survey by Bank Indonesia showed on Tuesday.

Retail sales rose 1.3 percent year-on-year in November, following a 3.7 percent gain in October. Sales have been rising since October last year.

On a monthly basis, retail sales grew 0.4 percent in November, slower than the 2.3 percent gain in the prior month.

Retailers predicted sales to carry on this positive trend in December, but at a slower rate of 0.04 percent. The overall increase is expected on the back of continued strong demand for information and communication equipment.

On a monthly basis, retail sales are predicted to increase strongly by 6.3 percent, as domestic demand was boosted by Christmas and New Year's holiday sales coupled with various retail discount programs.

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