Indonesia: Growth in retail sales surges in August
October 10, 2018
In August, retail sales grew 6.1% over the same month last year, up markedly from July’s 2.9% expansion and markedly beating the Bank’s initial estimate of 2.8%. The reading was largely driven by faster growth in the clothing; food, beverages and tobacco; and household equipment sub-sectors. Annual average retail sales growth increased from 2.5% in July to 2.8% in August.
According to the Bank of Indonesia’s survey, retail sales should have grown 3.7% in September.
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%, which is also unchanged from last month’s forecast.
Author: Oliver Reynolds, Economist