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Indonesia Nov retail sales post highest growth since July
January 6, 2014 / 11:07 AM / 4 years ago

Indonesia Nov retail sales post highest growth since July

JAKARTA, Jan 6 (Reuters) - Indonesian retail sales in November grew at their fastest annual pace since July, indicating still-buoyant domestic consumption in Southeast Asia’s biggest economy, a Bank Indonesia survey showed on Monday.

In November, retail sales were 14.0 percent above a year earlier, bolstered by purchases of information and communication equipment. In October, sales grew a revised annual 12.9 percent.

On a monthly basis, sales were up 1.5 percent in November.

The survey of 650 retailers in 10 major cities also showed rising price pressures were expected in the coming six months, due to higher production costs rooted in rising costs for imported raw materials as the rupiah continued to weaken.

Retailers said they expected December sales to rise 18.3 percent from a year ago.

Demand would also improve in the coming months due to elections and improvements in distribution, according to the survey. (Reporting by Nilufar Rizki; Editing by Richard Borsuk)

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