Indonesia’s domestic economy earlier this year was hale and hearty, and vehicle sales were even heartier. Then, fallout from the worldwide economic turmoil began to strike home in October. “Until recently, Indonesia was relatively immune to the global meltdown, but things are now slowing down,” says Ferry Wong, head of Indonesian research at Macquarie Securities Group in Jakarta. “Growth momentum in retail and home sales has been weakening. The price of crude palm oil, an important ...
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