Indonesia: Growth in retail sales picks up in November

In November, retail sales grew 3.4% over the same month last year, up from October’s 2.9% expansion and matching the Bank’s initial estimate. November’s uptick was driven by faster growth in the food, beverages and tobacco, automotive fuels, and cultural and recreation goods subsectors.

According to the Bank of Indonesia’s survey, retail sales should have grown 7.7% in December.

Indonesia Private Consumption Forecast

FocusEconomics Consensus Forecast participants see private consumption rising 5.2% in 2019 and 5.2% again in 2020.