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Financial News: Indonesia's Retail Sales Growth Remains Strong

Indonesia's Retail Sales Growth Remains Strong

11/09/2022 - 02:42:00 (RTTNews)

(RTTNews) - Retail sales growth in Indonesia remained strong in September despite easing slightly from August, and retailers expected sales to maintain growth momentum in October, results of a survey by Bank Indonesia showed on Wednesday.

Retail sales rose 4.6 percent year-on-year in September, following a 4.9 percent gain in August.

The overall growth in September was driven by improvements in sales of food, beverages and tobacco, and other household appliances, while growth in the motor vehicle fuel and clothing subgroups slowed.

On a monthly basis, retail sales decreased 1.8 percent in September, reversing a 0.8 percent gain in August.

Retailers predicted a further strong sales performance in October on the back of increased demand. Survey respondents predicted an annual increase of 4.5 percent, and sales were forecast to rebound by 3.1 percent over the month.

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