Indonesia: Retail sales growth slows sharply in December
February 9, 2015
Retail sales in December expanded 4.3% over the same month of the previous year, according to Bank Indonesia’s Retail Sales Survey (RSS). The expansion was well below the 11.5% rise observed in November. According to the Bank, December’s expansion was driven by strong growth of sales of information and communication equipment. Sales of automotive fuels, as well as food, beverages and tobacco also increased in December, although at much lower rates compared to November.
Annual average growth in retail sales decreased from 16.7% in November to 14.5% in December. According to the survey, retailers expect sales to pick up in January to a 12.5% annual growth rate.
Author: Carl Kelly, Economist