Indonesian October Retail Sales Expected Up 1% on Year

MT Newswires Live11-12

Retail sales in Indonesia are expected to rise by a modest 1% on year in October, according to Retail Sales Survey released by Bank Indonesia on Tuesday.

Retailers predict stronger sales in October of cultural and recreational goods, automobile parts and accessories, and clothing, said the central bank.

Indonesia's retail sales index, a metric of sector sales, rose 4.8% on year in September, moderating from 5.8% on-year growth in August.

The timing of the Indonesia Independence Day celebration in August boosted the retail sector, and so, on-month September retail sales fell 2.5% from August, added Bank Indonesia.

Retail survey respondents also expect some inflation in the coming three to six months, due to a build-up of inflationary pressures, said the central bank.

Retailers anticipate inflation to intensify during the upcoming Christmas and New Year festive periods, and the holy month of Ramadan in March 2025, according to the monthly survey.

Bank Indonesia in mid-September lowered key lending rates by 0.25%, and estimated that the nation's gross domestic product (GDP) would expand by 5.2% in 2024, and by a similar amount in 2025.

The nation's inflation rate was within the central bank's 2.5% plus or minus 1% "target corridor" and expected to remain under control through 2025, added the central bank.

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