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Indonesia February retail sales grow 3.7 pct y/y
April 10, 2017 / 8:35 AM / in 8 months

Indonesia February retail sales grow 3.7 pct y/y

JAKARTA, April 10 (Reuters) - Indonesia’s retail sales in February grew 3.7 percent from a year earlier, a slower pace than in January, a survey by Bank Indonesia (BI) showed on Monday.

January annual retail sales rose 6.3 percent.

The central bank said decreased buying of food and non-food items weakened the growth rate in February.

The survey of 700 retailers in 10 major cities predicted that March annual retail sales growth would be 2.6 percent, due to further weakening in sales of food and non-food items.

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

They also predicted retail sales will increase in May in line with increasing demand ahead of the Muslim fasting month, which begins in late May. (Reporting by Nilufar Rizki; Editing by Richard Borsuk)

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