Indonesia: Retail sales accelerate modestly in March
In March, retail sales rose 2.5% over the same month last year, coming in above February’s 1.5% increase and market expectations of a 1.7% increase. Growth was driven by higher sales of motor vehicles and food and beverages.
The trend, however, continued to point downwards in March, and annual average growth came in at a multi-year low of 1.9% (February: 2.1%). According to the Bank of Indonesia’s March retail sales survey, retailers expected sales to grow 3.4% year-on-year in April.