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Indonesia Retail January 2024

Indonesia: Retail sales growth rises in January

Retail sales expanded 3.7% compared to the same month of the previous year in January, which was above December’s 0.2% increase. The print marked the best reading since June 2023. January’s improvement was partly driven by faster growth in food, beverages, and tobacco sales. In addition, motor vehicles, parts and accessories sales picked up pace. Lastly, cultural and recreation goods sales declined at a softer rate, while information and communication equipment sales contracted at a softer pace than in December.

Meanwhile, the trend improved slightly, with the annual average growth of retail sales coming in at 1.8% in January, up from December’s 1.5% reading.

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