Indonesia: Retail sales soar, while industrial production slows somewhat in October
December 2, 2011
In October, real retail sales expanded 30.8% over the same month last year according to Bank Indonesia's Retail Sales Survey (RSS). The reading was well above the 18.1% increase registered in September and marked the 26th consecutive month of double-digit growth. As in the previous month, clothing sales led the expansion and skyrocketed 74.8% in October, which was above the 44.9% increase recorded in September. In addition, food and tobacco sales rose 30.1% in October, which was also up from the 21.8% increase in September. Annual average growth increased from 20.3% in September to 21.3% in October. According to the survey, retailers expect short-term growth in sales (3 to 6 months ahead) to increase, which implies sustained growth in private consumption going forward.