Retail sales in Indonesia advanced by 9.3 percent year-on-year in March 2024, sharply rising from a 6.4 percent gain in the previous month. It marked the tenth straight month of expansion in retail trade and the fastest pace since March 2022, as spending accelerated during the Ramadan fasting month and ahead of the Eid-el-Fitr celebration. There was strong growth in food sales (10.4% vs 9.1% in February), automotive parts & accessories (17.3% vs 9.0%), clothing (20.6% vs 0.3%), fuels (7.1% vs 10.7%), while trade stayed solid for home appliances (2.9% vs 0.5%). Simultaneously, sales dropped at softer paces for cultural & recreational goods (-5.4% vs -7.1%) and information & communication (-5.9% vs -21.9%). On a monthly basis, retail sales surged 9.9% in March, the most in 11 months, after a 1.7% rise in February. Retail sales growth for April is expected to slow sharply to 0.1%.
