Indonesia Retail May 2022

Indonesia

Indonesia: Retail sales growth loses pace in May

June 10, 2022

Retail sales grew 5.4% compared to the same month a year earlier in May, which was a deterioration from April's 8.5% increase. May's result marked the worst reading since September 2021. The reading was largely driven by a deterioration in food, beverages, and tobacco sales, as it expanded at the slowest pace since September 2021. In addition, motor vehicles, parts and accessories sales lost steam. Lastly, cultural and recreation goods sales decreased at a sharper rate, while information and communication equipment sales contracted at a steeper pace than in April.

Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at 6.3% in May, down from April's 7.2%.

FocusEconomics Consensus Forecast participants see private consumption rising 4.7% in 2022, which is unchanged from last month’s forecast. For 2023, panelists see private consumption increasing 5.2%.


Author:, Junior Economist

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