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Indonesia Retail February 2020

Indonesia: Retail sales decline in February, sharp fall expected for March

In February, retail sales fell 0.8% year-on-year, coming after January’s 0.3% fall but a softer decline than the Central Bank’s initial estimate of a 1.9% contraction. February’s reading was driven chiefly by lower spending on culture and recreation, IT equipment and fuel. The Bank expects retail sales to have contracted 5.4% in March due to the impact of Covid-19, which suggests very weak private consumption in the first quarter.

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