Indonesia: Retail sales accelerate in February
April 10, 2015
Retail sales in February expanded 16.5% over the same month of last year, according to Bank Indonesia’s Retail Sales Survey (RSS). The expansion was higher than the 10.9% rise observed in January and marked the strongest result in four months. According to the Bank, February’s expansion was driven by strong growth of sales of information and communication equipment as well as of food, beverages and tobacco.
Annual average growth in retail sales decreased from 13.4% in January to 13.3% in February. According to the survey, retailers expect sales to pick up further in March to a 19.9% annual growth rate.
Author: Carl Kelly, Economist