Indonesian retail sales post strong annual gain

The strongest growth was seen in sales of cultural and recreational goods with a 15.5% y-o-y increase. — AFP

JAKARTA: Indonesian consumers are upbeat heading into the new year thanks to rising optimism about the near-term outlook, and retail sales are far stronger than a year ago, according to preliminary data.

Survey results published by Bank Indonesia (BI) on Tuesday showed the retail sales index (RSI) dipping to 228.3 points in January from 229.8 points in December, marking a 0.6% contraction when compared with the preceding month, which had benefitted from the seasonal holiday spending boost.