Solid growth for Indonesian retail sales
Indonesian retail sales rose 10.5 per cent in December, and another strong month is expected in January.
According to data from Bank Indonesia, the strong December growth figure followed a revised 9.9 per cent growth rate in November. Increased food sales were the major contributor.
Meanwhile, a survey of 700 retailers in 10 major Indonesian cities predicted January sales will increase by 9.5 per cent, the decline on December down to reduced food spending.
Retailers said they expected a decline in retail sales growth during the next quarter, but a return to strong growth in the second half of the year.
Price pressures are tipped to recede in March, but increase during the ensuing six months.