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Indonesia retail sales drop 14.6per cent year-on-year in March, better than forecast - central bank

Indonesia retail sales drop 14.6per cent year-on-year in March, better than forecast - central bank

FILE PHOTO: People wearing protective face masks shopping in Tanah Abang textile market ahead of Eid al-Fitr festival amid the coronavirus disease (COVID-19) outbreak in Jakarta, Indonesia, May 3, 2021. REUTERS/Ajeng Dinar Ulfiana

JAKARTA: Retail sales in Indonesia fell at a slower pace of 14.6per cent on annual basis in March, compared with an 18.1per cent fall in February, a central bank survey showed on Tuesday.

Stronger fuel sales were supportive, although sales of clothes and recreational amenities continued to show drops during the month, the survey showed.

Bank Indonesia, which had forecast a 17.1per cent drop in sales in March, is predicting a 9.8per cent increase in April.

(Reporting by Tabita Diela and Fransiska Nangoy; Editing by Ed Davies)

Source: Reuters

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