Indonesia’s retail sales ratchets up in 2018
Source: Xinhua Time:2019-02-11 20:14:11
Retail sales in Indonesia, where consumption accounts for the largest to the GDP growth, edged up in 2018 supported by climbing sales of clothes and automotive fuels, a survey carried out by the central bank showed here on Monday.
Retail sales grew 3.7 percent last year, compared with 2.9 percent in the presiding year.
Sales of clothes expanded 15.1 percent in 2018, faster than 1.0 percent in 2017, and sales of automotive fuels drifted higher by 11.3 percent last year, compared with 1.7 percent contraction in the previous year.
The 2018 retail sales growth was in line with the expansion of spending in household consumption which accelerated at a faster pace of 5.05 percent in 2018 from 4.94 percent in 2017.
Besides, the annualized core inflation, stripping off government-controlled and volatile food prices, edged up 3.07 percent last year from 2.95 percent in the presiding year, according to data from the statistic bureau.
For January 2019, retail sales were expected to continue growing, indicated by its index of 4.5 percent on a yearly basis, supported by the sales of automotive fuels, culture and recreation-linked products and clothes.
Last year, the Southeast Asia’s biggest economy accelerated to the fastest pace in five years with a growth of 5.17 percent,yet lower from the government’s 5.4 percent target.