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Indonesia Retail February 2024

Indonesia: Retail sales record quickest growth since June 2023 in February

Retail sales increased 3.6% compared to the same month of the previous year in February, which was above January’s 1.1% increase. February’s figure marked the best reading since June 2023. February’s reading was largely driven by faster growth in food, beverages, and tobacco sales. In contrast, motor vehicles, parts and accessories sales lost steam. Lastly, cultural and recreation goods sales contracted at a softer rate, while information and communication equipment sales contracted at a softer pace than in January.

Meanwhile, annual average retail sales growth rose to 1.9% in February (January: +1.6%), signaling an improving trend in the retail trade sector.

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