Indonesia: Retail sales growth picks up in October
December 10, 2013
Retail sales expanded 12.8% over the same month last year in October, according to Bank Indonesia's Retail Sales Survey (RSS). The expansion marks a slight improvement over the 12.3% rise observed in September (previously reported: +4.5% year-on-year). According to the Bank, the increase was driven by a rise in six of the seven categories of the index. The highest increase was recorded in sales of information and communication equipment.
Annual average growth in retail sales inched down from 12.1% in September to 11.7% in October. According to the survey, retailers expected sales to stay strong in November and to grow 11.3% on an annual basis.
FocusEconomics Consensus Forecast participants see private consumption rising 5.0% in 2013, which is unchanged from last month's forecast. For 2014, panelists see growth in private consumption at 5.0%, which is also unchanged from last month's estimate.
Author: Carl Kelly, Economist