Indonesia: Retail sales slow in February
April 3, 2012
In February, retail sales expanded 11.3% over the same month last year according to Bank Indonesia's Retail Sales Survey (RSS). The reading was below the 15.1% increase observed in January (previously reported: +14.0% year-on-year) but marked the fourth consecutive month of double-digit growth. Sales of household equipment as well as food, beverages and tobacco led the expansion in February. Annual average growth, however, edged up from 9.6% in January to 9.8% in February. According to the survey, retailers expect short-term sales (3 to 6 months ahead) to continue to increase, which implies sustained growth in private consumption going forward.