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Rising affluence and rosy job prospects are forecast to fuel retail sales across the Asia-Pacific region in the second half of this year, according to a MasterCard survey.

August 13, 2007

Rising affluence and rosy job prospects are forecast to fuel retail sales across the Asia-Pacific region in the second half of this year, according to a MasterCard survey.

Indonesia is expected to take the lead, with sales likely to grow 16 percent compared with the same period in 2006. The survey cited the country’s success in curbing inflation and the easing of interest rates.
Other countries expected to experience double-digit growth are China (12 percent) and the Philippines (13.7 percent). – Sapa-dpa, Singapore