Indonesia retail sales continue to soar
Indonesia retail sales soared 19.8 per cent May on May, according to bank of Indonesia data.
While that is slower than the revised rate of 23.1 per cent in April (the bank had earlier estimated 22.4 per cent), it remains a figure developed economies can but dream about.
Sales rose a healthy 19.7 per cent in March.
The figure is based on data collected from 650 retailers in 10 major cities who are also quizzed on sentiment in the months ahead.
Despite the healthy rates of April and May retailers expressed sales growth will slow in June and soften further in August after the end of the Ramadan fasting month, largely over July.
They also expect inclement weather to disrupt distribution of stock during the next six months.
But consider this: Last month, the retailers surveyed said they expected sales growth to slow in May, weakened by the vehicle fuel, spare parts and accessories categories. They said they expect inflationary pressure in July to soften due to retail discount programs linked to Ramadan.