Indonesia Retail July 2019


Indonesia: Retail sales expand at mild pace in July; stronger outturn seen for August

September 10, 2019

In July, retail sales increased 2.4% year-on-year, contrasting June’s Ramadan-influenced 1.8% contraction and broadly in line with the Central Bank’s initial estimate of 2.3%. July’s reading was driven by greater sales of food and clothing. According to the Bank of Indonesia’s survey, retail sales should have grown 3.7% in August.

Despite soft retail sales readings in recent months, the outlook for private consumption is fairly positive, thanks to solid wage growth and mild price pressures.

FocusEconomics Consensus Forecast participants see private consumption rising 5.1% in 2019 and 5.2% in 2020.

Author:, Economist

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Indonesia Retail Chart

Indonesia Retail July 2019

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

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