Indonesia: Retail sales growth slows in May
July 16, 2013
In May, retail sales expanded 8.6% over the same month last year, according to Bank Indonesia's Retail Sales Survey (RSS). The reading was below the 10.0% rise observed in April (previously reported: +9.7% year-on-year). According to the Bank, the increase was driven by all categories with the exception of food, beverages and tobacco. The highest increase was recorded in sales of information and communication equipment.
Despite the lower annual reading, annual average growth remained stable at 13.7% in May. According to the survey, retailers expect growth in short-term sales (three to six months ahead) to continue to rise on the back of domestic demand.
FocusEconomics Consensus Forecast participants see private consumption rising 5.2% in 2013, which is unchanged from last month's forecast. For 2014, panellists expect private consumption growth at 5.3%.