Indonesia’s Retail Sales Growth Highest Since 2016: Central Bank

Indonesia
FILE PHOTO: Women shop for head scarves at a booth at Indonesia Fashion Week in Jakarta, Indonesia March 11, 2016. REUTERS/Darren Whiteside

JAKARTA ⸺ Retail sales in Indonesia expanded for the first time in 17 months in April, rising 15.6% on an annual basis and compared with a 14.6% fall a month earlier, a central bank survey showed on Thursday.

The pace of the increase was the highest since 2016 on a low base effect as sales were hit in April 2020 due to coronavirus restrictions.

Bank Indonesia said rising purchases during the Muslim fasting month also boosted the numbers. BI predicts a 12.9% rise in retail sales in May.

Reporting by Tabita Diela; Editing by Gayatri Suroyo and Ed Davies; Reuters

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