Indonesia retail sales accelerate
Indonesia retail sales are accelerating.
Data released by the Bank of Indonesia on Thursday showed Indonesia retail sales in February rose 16.5 per cent – well ahead of expectations and the highest rate since October last year.
And the revised figure for January was 10.9 per cent – up half a percentage point from the 10.4 per cent previously reported. January’s growth was considerably higher than December’s 3.3 per cent, which was revised down from an early indicated 4.3 per cent.
The Bank said the growth was boosted by increased sales of information and communication equipment, food and beverages and tobacco.
Each month, the bank surveys 650 retailers in 10 major cities across the nation. The overwhelming response was that the sales growth would continue to accelerate in March, due to food and beverage and tobacco categories.
The retail growth rate has fluctuated wildly during the last six months. December’s 3.3 per cent was the worst during the period and October’s 17.6 per cent the best. In November it was 11.4 per cent and in September 8.9 per cent.