Indonesia: Retail sales expand at fastest pace in two years
November 5, 2012
In September, retail sales expanded 22.0% over the same month last year, according to Bank Indonesia's Retail Sales Survey (RSS). The reading was more than two times the 10.6% increase observed in August (previously reported: +11.4% year-on-year) and represented, in fact, the fastest pace of expansion since August 2010. Sales of household equipment as well as of food, beverages and tobacco led the expansion in September. As a result of the faster monthly expansion, annual average growth rose to 12.8% in September from 10.4% in August. Moreover, according to the survey, retailers expect growth in short-term sales (three to six months ahead) to continue to increase.