Financial News: Indonesian Retailers Expect Sales To Rise Further

Indonesian Retailers Expect Sales To Rise Further

05/10/2023 - 10:40:00 (RTTNews)

(RTTNews) - ?Indonesia's retail sales increased for the second successive month in March, and retailers expected sales to maintain the growth momentum in April, the results of a survey by Bank Indonesia showed on Wednesday.

Retail sales rose strongly by 4.9 percent year-on-year in March, faster than the 0.6 percent rebound in the previous month.

The growth in March was largely driven by more sales of food, beverages, and tobacco, as well as cultural and recreational goods as well as clothing.

On a monthly basis, retail sales advanced 7.0 percent in March versus a 3.4 percent fall in February. This was the first increase in three months.

Retailers predicted sales to grow 1.0 percent annually in April. The rise is expected on the back of strong demand for increasing retail sales of cultural and recreational goods, coupled with improved retail sales of other household equipment.

Nonetheless, retailers expect sales growth to accelerate to 12.2 percent on a monthly basis at the start of the second quarter.

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