Indonesia’s cement consumption grew 11.5 per cent in September from a year earlier to 2.92Mt, the country’s largest cement producer PT Semen Gresik said, reflecting strong building activity. The monthly sales data is closely watched by analysts because the booming property sector, driven by low interest rates, has been a crucial contributor to economic growth in Indonesia.
Some analysts have said domestic cement sales would rise eight per cent this year, helped by property projects and other spending linked to the country’s parliamentary and presidential elections. Domestic sales grew by only one per cent in 2003 to 27.5Mt, hurt by rising fuel and utility prices.
