Indonesian monthly growth

Indonesian monthly growth
Published: 18 August 2009

Indonesian cement sales rose for the first time year-on-year in July this year, growing 2.8 per cent to 3.51Mt from 3.41Mt in the same month last year.

Low lending credit rates, following steady cuts in the Bank Indonesia key rate to 6.5 per cent earlier this month, contributed to the revival of the property sector, one of the main consumers of cement, the cement makers’ association said.

Lending rates were still high in the first half of this year forcing developers to postpone their projects, association chairman Urip Timuryono said.

Development of large projects such as toll road projects is brisker in various areas in the country, Urip said.