Indonesia’s cement consumption grew 5.5 per cent in October to 2.97Mt from the same month a year earlier, the country’s largest cement maker said, reflecting strong building activity. Monthly sales data is closely watched by analysts as the booming property sector, driven by low interest rates, is seen as an indicator of economic activity.
In the first 10 months of this year, domestic cement sales grew 8.6 percent to 25.25Mt, compared to the same period of 2003, PT Semen Gresik Tbk said on its website. Some analysts have said the country’s domestic cement sales should rise eight per cent this year, helped by property projects and spending linked to parliamentary and presidential elections.
State-controlled Semen Gresik also said that its domestic sales grew 6.7 per cent year-on-year in October to 1.3Mt, while the figure for the first 10 months rose 12.5 per cent to 11.36Mt. Gresik sales accounted for nearly 45 per cent of national sales in October.
