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