Indonesia Retail December 2020

Indonesia

Indonesia: Retail sales deteriorate in December; improvement expected for January

February 9, 2021

Retail sales plunged 19.2% in December (October: -16.3% yoy). The sharper drop was largely driven by a deterioration in sales of food, beverages and tobacco as well as of clothing.

Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 11.7%, down from November's minus 10.3%.

The Central Bank expects retail sales to have contracted a softer 14.2% in January.

FocusEconomics Consensus Forecast participants see private consumption rising 4.7% in 2021, which is down 0.2 percentage points from last month’s forecast. For 2022, panelists see private consumption increasing 5.3%.


Author: Massimo Bassetti, Senior Economist

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Indonesia Retail Chart


Indonesia Retail December 20 20

Note: Year-on-year and annual average variation in retail sales in %.
Source: Bank Indonesia (BI) and FocusEconomics calculations.


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