Indonesian domestic cement sales in November dropped 20 per cent from the same month a year earlier due to a long holiday, the country's largest cement maker said on Tuesday.
The world's fourth most populous country consumed 1.97Mt of cement in November, down from 2.45Mt in the same month in 2002. PT Semen Gresik, 25.5 per cent owned by Mexico's Cemex said in a statement its own sales, including exports, fell 13.3 per cent in November to 1Mt, mainly due to a sharp decline in domestic cement sales.
Analysts have said cement sales were expected to have been relatively flat last year. They forecast a better performance in 2004 as an election year brings more infrastructure projects. At the same time, falling interest rates are expected to boost property sales this year.