Indonesia Feb retail sales grow 9.9% year on year

[JAKARTA] Indonesia's retail sales in February grew 9.9 per cent from a year earlier, a lower pace than the previous month mainly due to weaker sales of clothing, a Bank Indonesia survey showed on Tuesday.

January annual retail sales growth was revised to 12.9 per cent from the previously reported 12.5 per cent.

The survey of 700 retailers in 10 major cities predicted growth in March would slow again, to 9.6 per cent, because of weaker sales of information and telecommunication equipment.

According to survey respondents, price pressures would be higher in May, ahead of the start of the Muslim fasting month of Ramadan.

REUTERS