Indonesia Retailers Expect Sales Growth To Continue

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

Retail sales rose 3.7 percent year-on-year in October, following a 4.6 percent gain in September. Sales have been rising since October last year.

On a monthly basis, retail sales rebounded 2.3 percent in October, reversing a 1.8 percent gain in September. Retailers predicted sales to grow positively by 1.6 percent in November on the back of continued strong demand in the clothing sub-group, the cultural and recreation goods group, and the food, beverages and tobacco group. On a monthly basis, retail sales are forecasted to grow by 0.7 percent.

Retailers also predict that inflationary pressure will decrease in January 2023 and slightly increase in April next year, in line with the sales forecast.