Indonesia: Retail sales accelerate in January
Latest reading: Retail sales rose 7.9% year on year in January, following a 3.5% increase in December. The reading was likely flattered by a low base effect due to the timing of the Lunar New Year.
Relative to the prior month’s figures, readings in January improved for food, beverages, and tobacco (+9.7% on a year-on-year basis vs +5.9% in December), automotive fuels (+0.2% vs -7.1% in December), cultural and recreation goods (+15.5% vs +5.2% in December) and information and communication equipment (-18.8% vs -30.2% in December). In contrast, the reading worsened for motor vehicles, parts and accessories (+11.9% vs +14.8% in December).