Indonesia: Retail sales growth picks up pace in January
Retail sales grew 1.7% in year-on-year terms in January, which was above December’s 0.7% increase. The pickup was largely driven by an improvement in food, beverages, and tobacco sales. In contrast, motor vehicles, parts and accessories sales fell heavily. Lastly, cultural and recreation goods sales dropped at a sharper rate, while information and communication equipment sales fell at a steeper pace than in the prior month.
Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at 4.9%, down from December’s 6.0%.