Indonesia: Retail sales contract at the beginning of the year
In January, retail sales decreased 1.8% over the same month of the previous year, contrasting December’s subdued 0.7% expansion. The result came after the holiday season and marked the first decline since July 2017. A contraction in sales of durable goods, such as information and communication equipment, weighed on overall growth.
The trend continued to point downwards in January and annual average growth came in at a multi-year low of 2.2% (December: 2.9%). According to the survey, retailers expect sales to rebound in February and grow 1.0%.