Indonesia: Retail sales up in April
In April, retail sales rose 4.1% over the same month last year, coming in above March’s 2.5% increase and market expectations of a 3.4% increase. April’s print marked the fastest expansion since June 2017 and the third consecutive acceleration. Growth was driven by higher sales of fuel products and food and beverages.
Annual average retail sales growth, meanwhile, came in at a multi-year low of 1.9% in April, matching the print recorded in March. According to the Bank of Indonesia’s April retail sales survey, retailers expected sales to grow 4.4% year-on-year in May.