Indonesia: Retail sales improve in January; deterioration expected for February
March 9, 2021
Retail sales plunged 16.3% in January (December: -19.1% yoy). The drop was largely driven by falling sales of automotive fuel, other household equipment and clothing.
Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 13.2%, down from December's minus 11.9%.
The Central Bank expects retail sales to have contracted a sharper 16.5% in February.