Business

Indonesia's retail sales growth highest since 2016 -central bank

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

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

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JAKARTA: Retail sales in Indonesia expanded for the first time in 17 months in April, rising 15.6per cent on an annual basis and compared with a 14.6per cent 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 12.9per cent rise in retail sales in May.

(Reporting by Tabita Diela; Editing by Gayatri Suroyo and Ed Davies)

Source: Reuters