Indonesia: Retail sales and industrial production moderate in December
February 10, 2012
In December, real retail sales expanded 22.2% over the same month the year before according to Bank Indonesia's Retail Sales Survey (RSS). The reading was below the 26.8% increase registered in November but still marked the 28th consecutive month of double-digit growth. Clothing and food sales led the expansion in December. 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. Retail sales increased 22.0% in the full year 2011, which was below the 26.3% rise observed in 2010. Meanwhile, industrial production expanded 6.0% in December, which was below November's 6.2% increase. As a result, industrial output grew 5.6% in 2011, which was above the 4.4% expansion tallied in 2010.