Indonesia Retail July 2020

Indonesia

Indonesia: Decline in retail sales eases slightly in July but remains marked

September 9, 2020

Retail sales slid 12.3% compared to the same month a year earlier in July, which was a less pronounced drop than June’s 17.1% decrease.

July’s reading reflected softer declines in the food, beverages, and tobacco, automotive fuels and recreation sub-sectors. Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 5.5%, down from June's minus 4.3% reading.

The Bank expects retail sales to have contracted a milder 10.1% in August as economic activity continues to gradually normalize. However, the figures for July and August still suggest extremely weak consumer spending in the third quarter, as elevated new Covid-19 cases hamper the recovery.

FocusEconomics Consensus Forecast participants see private consumption declining 1.6% in 2020, which is down 0.5 percentage points from last month’s forecast. For 2021, panelists see private consumption increasing 5.5%.


Author:, Economist

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Indonesia Retail July 20 20 0

Note: Year-on-year and annual average variation in retail sales in %.
Source: Bank Indonesia (BI) and FocusEconomics calculations.


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