Indonesia: Retail sales accelerate in March
May 11, 2015
Retail sales in March expanded 19.3% over the same month of last year, according to Bank Indonesia’s Retail Sales Survey (RSS). The expansion was higher than the 16.1% rise observed in February and marked the strongest result in over a year. 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 increased from 13.3% in February to 13.5% in March. According to the survey, retailers expect sales to pick up further in April to a 23.6% annual growth rate.
Author: Carl Kelly, Economist