Indonesian retail sales experiences rapid growth

Indonesian retail sales posted solid growth in December, according to a central bank survey. According to the data release, December sales grew at 7.7 per cent throughout the territory, a significantly faster rate than shown in figures from the year previous, are more than double November’s growth rate of 3.4 per cent.

Sales throughout the month were predominantly underpinned by purchases of food, beverages and tobacco, alongside cultural and recreational goods.

The survey predicts Indonesian retail sales will grow at a year-on-year rate of 4.8 per cent in January.