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Indonesia March retail sales growth picks up to 4.2 pct y/y
May 10, 2017 / 8:39 AM / 7 months ago

Indonesia March retail sales growth picks up to 4.2 pct y/y

JAKARTA, May 10 (Reuters) - Indonesia’s retail sales in March grew 4.2 percent from a year earlier, a faster pace than in February, a survey by Bank Indonesia (BI) showed on Wednesday.

February annual retail sales grew 3.7 percent.

The growth rate in March was supported mainly by the increased buying of food items, the central bank said.

The survey of 700 retailers in 10 major cities predicted that April’s annual retail sales growth would be 5.4 percent, still supported by sales of food.

Survey respondents felt that price pressures were expected to increase in the next three months.

They also predicted retail sales would increase in June in line with increasing demand during the Muslim fasting month, which begins in late May and ahead of Eid-al Fitr. (Reporting by Nilufar Rizki; Editing by Jacqueline Wong)

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