Indonesia: Growth in retail sales stays brisk in September

In September, retail sales grew 4.8% over the same month last year, down from August’s 6.1% expansion but beating the Bank’s initial estimate of 3.7%. Retail sales figures for August—and to a lesser extent September—were flattered by the Asian Games, which saw an influx of foreign visitors. September’s reading was partly driven by strong growth in the food, beverages and tobacco; and automotive fuels sub-sectors.

According to the Bank of Indonesia’s survey, retail sales should have grown 3.9% in October.

Indonesia Private Consumption Forecast

FocusEconomics Consensus Forecast participants see private consumption rising 5.1% in 2019 and 5.2% in 2020.