Indonesia Retail August 2021

Indonesia

Indonesia: Decline in retail sales softens in August

October 15, 2021

Retail sales declined 2.1% compared to the same month of the previous year in August, which was above July's 2.9% decrease. Looking at the details of the release, food, beverages, and tobacco sales grew at a softer pace in August, while motor vehicles, parts and accessories sales dropped at a milder pace. Lastly, cultural and recreation goods sales fell at a softer rate, while information and communication equipment sales declined at a softer pace than in the previous month.

Meanwhile, the trend improved, with the annual average variation of retail sales coming in at a one-year high of minus 7.3%, up from July's minus 7.9% reading.

FocusEconomics Consensus Forecast participants see private consumption rising 5.5% in 2022, which is unchanged from last month’s forecast. For 2023, panelists see private consumption increasing 4.7%.


Author: Massimo Bassetti, Senior Economist

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Indonesia Retail Chart


Indonesia Retail August 2021

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


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