Indonesia: Retail sales growth picks up in September
November 15, 2013
Retail sales expanded 4.5% over the same month last year in September, according to Bank Indonesia's Retail Sales Survey (RSS). The expansion marks an improvement over the 2.0% rise observed in August (previously reported: +1.3% year-on-year), which had been the lowest growth rate in nearly two years. 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 fell from 12.6% in August to 11.4% in September. According to the survey, in October retailers expect sales to accelerate further and grow 6.4% 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