Indonesia: Retail sales expand at the fastest pace in nearly two years
September 5, 2012
In July, retail sales expanded 19.8% over the same month last year, according to Bank Indonesia's Retail Sales Survey (RSS). The reading was above the 14.3% increase observed in June (previously reported: +13.6% year-on-year) and marked, in fact, the fastest pace of expansion since August 2010. As a result of the faster monthly expansion, annual average growth climbed to 11.1% in July from 10.7% in June. Moreover, according to the survey, retailers expect growth in short-term sales (three to six months ahead) to be somewhat slower.