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Indonesia Retail January 2020

Indonesia: Retail sales decline in January, further fall expected in February

In January, retail sales decreased 0.3% year-on-year, coming after December’s 0.5% drop but a softer decline than the Central Bank’s initial estimate. January’s reading was driven by lower clothing and automotive fuel sales. The Bank expects retail sales to have contracted 1.9% in February, potentially linked to the coronavirus outbreak dampening spending. The latest data suggests muted private consumption in the first quarter.

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