In December, real retail sales expanded 21.8% over the same month the year before, according to Bank of Indonesia's Retail Sales Survey (RSS). The reading represented a strengthening over the already impressive 18.8% increase registered in November and marked the 16th consecutive month of double-digit growth in retail sales. Stronger clothing sales led the acceleration, expanding an annual 69.7%, up from the 63.9% increase recorded in November. In contrast, food and tobacco sales added a less vigorous 19.3% in December (November: +29.6% year-on-year) and construction material sales fell again, declining 27.0% in December (November: -29.0% yoy). Despite the December acceleration, annual average growth in real retail sales fell to 26.3% from 27.5% in November. According to the RSS, retailers expect sales to increase in the short run, which bodes well for private consumption in the coming months. Meanwhile, in December, industrial production surged 8.2% over the same month the year before, well above the 4.6% increase observed in November (previously reported: +4.2% yoy). Consequently, annual average growth increased to 4.5% in December (November: +4.1% yoy).
Retail sales accelerate in December
February 11, 2011
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Indonesia Economic News
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At its 19–20 October monetary policy meeting, Bank Indonesia decided to cut the BI seven-day Reverse Repo rate (BI seven-day RR rate) from 5.00% to 4.75%.
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Indonesia’s trade surplus rose in September to a 14-month high as imports deteriorated.
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