Indonesia: Retail sales accelerate in March
May 7, 2012
In March, retail sales expanded 12.8% over the same month last year according to Bank Indonesia's Retail Sales Survey (RSS). The reading was above the 11.6% increase observed in February (previously reported: +11.3% year-on-year) and marked the fifth consecutive month of double-digit growth. Sales of household equipment as well as food, beverages and tobacco led the expansion in March. Annual average growth rose from 9.9% in February to 10.2% in March. According to the survey, retailers expect short-term sales (3 to 6 months ahead) to continue to increase, which implies sustained growth in private consumption going forward.