Indonesian retail sales experiences rapid growth
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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.
Questions & Answers
Q.What was the retail sales growth rate in Indonesia during December?
What was the retail sales growth rate in Indonesia during December?
Indonesian retail sales grew by 7.7 per cent in December. This rate was more than double November’s growth rate of 3.4 per cent, showing significant acceleration according to the central bank survey.
Q.Which product categories primarily supported the retail sales growth in December?
Which product categories primarily supported the retail sales growth in December?
Sales in December were predominantly driven by purchases of food, beverages, and tobacco. Cultural and recreational goods also contributed significantly to the overall growth experienced throughout the month.
Q.What is the predicted growth rate for Indonesian retail sales in January?
What is the predicted growth rate for Indonesian retail sales in January?
The survey forecasts that Indonesian retail sales will grow at a year-on-year rate of 4.8 per cent in January. This prediction follows the strong performance observed in the preceding month.
Reader pulse
Will Indonesia maintain this strong retail growth?
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