Indonesia: Retail sales growth accelerates in November
January 16, 2018
In November, retail sales increased 2.5% over the same month of the previous year, which was above October’s 2.2% rise. Higher growth in automobile fuels and a smaller contraction in sales of information and communication equipment drove the improvement.
The trend continued to point downwards in November and annual average growth came in at a multi-year low of 3.7% (October: 4.3%). According to the survey, retailers expect sales to accelerate further in December and grow 2.6%.
Indonesia Private Consumption Forecast
FocusEconomics Consensus Forecast participants see private consumption rising 5.1% in 2018, which is unchanged from last month’s forecast. For 2019, panelists see growth in private consumption broadly steady at 5.2%.