Indonesia’s Sept Retail Sales Rise 22% From Last Year
Indonesia’s retail sales, an indicator of domestic consumption in Southeast Asia’s biggest economy, grew strongly in September from a year ago due to spending on household appliances, food, beverages and cigarettes, a Bank Indonesia survey showed on Monday.
The index rose 22 percent year-on-year, having risen by a revised 10.6 percent year-on-year rise in August.
The index fell 13.9 percent in Sepetmber on a monthly basis as sales slowed after the Muslim Idul Fitri festival, the survey said.
Domestic consumption makes up about 55 percent of the country’s economy.
According to the survey of 600 retailers in 10 cities, sales were expected to increase in the next three months. Meanwhile, pressure on prices are expected to ease in the next three to six months.
The survey of retail sales is released ahead of the statistics bureau’s GDP announcement on Monday, 0400 GMT.
A Reuters poll shows the economy is likely to grow 6.2 percent in the third quarter, weaker than 6.4 percent in the previous quarter.
Buoyant domestic demand and robust investment are seen offsetting weak exports in the third quarter.