JAKARTA, Feb 9 (Reuters) - Indonesia’s annual retail sales in December grew at a much slower pace of 4.3 percent due to weak sales of household utensils, cultural and recreational goods as well as spare parts and accessories, a Bank Indonesia survey showed on Monday.
December’s retail sales were slower than November’s 11.4 percent growth, which was revised from an initial 14.1 percent.
The survey of 650 retailers in 10 major cities showed that retail sales on a yearly basis were expected to ease in the next three months due to slowing demand in Southeast Asia’s largest economy.
However, retail sales could improve in June as demand picks up during the Ramadan fasting month.
The survey also showed that price pressures in the next three months would ease as respondents became less concerned over the rise in fuel prices. (Reporting by Nilufar Rizki; Editing by Randy Fabi and Jacqueline Wong)