Indonesia: Retail sales maintain high growth rate in April despite decelaration
June 16, 2014
Retail sales expanded 16.2% over the same month last year in April according to Bank Indonesia’s Retail Sales Survey (RSS). The expansion marked a modest deceleration compared to the 17.0% rise observed in March (previously reported: +25.1% year-on-year). Despite the slowdown, the result represented the sixth consecutive month in which growth was higher than 15.0%. According to the Bank, sales accelerated in four of the seven categories of the index, including notable gains in the sales of information and communication equipment.
Annual average growth in retail sales increased from 15.3% in March to 15.8% in April, which marked the highest level in more than three years. According to the survey, retailers expect sales to have remained broadly stable in May with a 16.3% year-on-year growth rate.
Author: Carl Kelly, Economist