Indonesia: Growth in retail sales accelerates in October
December 8, 2015
Retail sales in October expanded 8.7% over the same month last year, according to Bank Indonesia’s Retail Sales Survey (RSS). The expansion was above the revised 7.1% increase observed in the previous month (previously reported: +7.2% year-on-year). According to the Bank, October’s increase was driven mainly by strong sales of information and communication equipment.
Annual average growth in retail sales fell from 13.5% in September to 12.8%, which marked the lowest reading in almost two years. According to the survey, retailers expect sales to accelerate in November to an 11.4% annual increase.
Author: Carl Kelly, Economist