US Retail Sales Beat Expectations, Driven by Broad-Based Spending

US Retail Sales Beat Expectations, Driven by Broad-Based Spending
US retail sales rose 1.7% MoM in Mar-26, surpassing expectations of 1.4% and accelerating from an upwardly revised 0.7% in Feb-26, marking the strongest growth since Mar-25, driven by a sharp 15.5% surge in gasoline sales amid higher fuel prices, while underlying demand remained solid across most categories including furniture (+2.2%), general merchandise (+1.0%), and nonstore retail (+1.0%), with core retail sales also rising 0.7% (vs. 0.2% forecast), indicating resilient consumer spending despite inflationary pressures. (Trading Economics)

Electric Vehicle (EV) Tax Policy May Hinder Industry Growth, Says Periklindo
Periklindo warned that the implementation of regional motor vehicle tax (PKB) on EVs could hinder Indonesia’s EV ecosystem growth, given current penetration is still below 5% and highly price sensitive, potentially reducing competitiveness, discouraging investment, and disrupting national decarbonization targets, despite strong momentum with >15 new EV brands, 3,500+ charging stations, and >USD 5 bn investment commitments, prompting calls for policy harmonization, tax incentives, and a moratorium on EV taxes until 2030. (Bloomberg Technoz)

Mora Telematika Indonesia (MORA) Posted Strong 1Q26 Earnings Growth
MORA posted 1Q26 net profit of IDR 128.82 bn (+23.16% YoY), driven by revenue growth of 7.49% YoY to IDR 962.6 bn and higher gross profit of IDR 592.48 bn, while operating profit increased to IDR 285.41 bn despite rising operating expenses, supported by lower finance costs and improved forex gains, with the co.’s financial position remaining solid as total assets reached IDR 14.92 tn and equity stood at IDR 8.06 tn, reflecting continued earnings resilience and stable balance sheet expansion. (Emitennews) 

ESSA Industries (ESSA) to Conduct Scheduled Maintenance at Ammonia Plant 
ESSA announced a temporary shutdown of its Banggai Ammonia Plant (BAP) operated by PT Panca Amara Utama for 5 weeks starting 06 May-26 as part of scheduled maintenance to maintain operational reliability, which may temporarily reduce ammonia production, while the co. expects improved performance post-maintenance despite recording FY25 revenue of USD 295.01 mn (- 2.12% YoY) and net profit of USD 40.29 mn (-10.82% YoY). (Kontan)