FX.co ★ Indonesian Retail Sales Growth Remains Strong

Indonesia's retail sales experienced growth for the tenth consecutive month in March, although the rate of growth was more subdued compared to that of February, according to preliminary reports from Bank Indonesia. Year-on-year retail sales in March increased by 3.5 percent, which is a decrease from the previous month's 6.4 percent growth. The leading contributors to the overall annual growth were increased sales of clothing, spare parts, accessories, and automotive fuel. In terms of monthly sales, the growth rate increased at a quicker pace of 4.1 percent in March, in contrast to the 1.7 percent growth recorded in February.