Indonesia Jan retail sales grow 12.5% year on year

Indonesia’s retail sales in January grew 12.5 per cent from a year earlier, bolstered by information and telecommunication equipment especially electronics, a Bank Indonesia survey showed on Friday.

December annual retail sales growth was revised up to 11.4 per cent from the previously reported 10.4 per cent.

The survey of 700 retailers in 10 major cities predicted slower February retail sales growth of 11.9 per cent.

Respondents were optimistic over retail sales in the next three months in line with higher demands ahead of and during the Muslim fasting month in June.