Indonesia: Growth in retail sales picks up in July

In July, retail sales grew 2.9% over the same month last year, up from June’s 2.3% increase. July’s uptick was driven by faster growth in the majority of sub-sectors, including motor vehicle parts and accessories; vehicle fuels; and culture and recreation goods. Annual average retail sales growth increased from 1.9% in June to 2.5% in July.

According to the Bank of Indonesia’s survey, retail sales should have grown 2.8% in August.

Indonesia Private Consumption Forecast

FocusEconomics Consensus Forecast participants see private consumption rising 5.1% in 2018, which is unchanged from last month’s forecast. For 2019, panelists see growth in private consumption broadly steady at 5.2%.