Indonesia: Retail sales growth picks up further in November
January 8, 2014
Retail sales expanded 14.0% over the same month of the previous year in November 2013 according to Bank Indonesia's Retail Sales Survey (RSS). The expansion marks an improvement over the 12.8% rise observed in October. According to the Bank, the increase was driven by an increase in five of the seven categories of the index, the highest of which was recorded in sales of information and communication equipment.
Annual average growth in retail sales inched down from 11.6% in October to 11.4% in November. According to the survey, retailers expected sales to accelerate in December and grow 18.3% on an annual basis.
FocusEconomics Consensus Forecast participants see private consumption rising 5.0% in 2014, which is unchanged from last month's forecast. For 2015, panelists see growth in private consumption at 5.3%.
Author: Carl Kelly, Economist