Indonesia: Retail sales increase in June
August 15, 2013
Retail sales expanded 14.8% over the same month last year in June, according to Bank Indonesia's Retail Sales Survey (RSS). The reading was above the 12.0% rise observed in May (previously reported: +8.6% year-on-year). According to the Bank, the increase was driven by all categories with the exception of household goods. The highest increase was recorded in sales of information and communication equipment.
Despite the higher annual reading, annual average growth remained stable at 13.9% in June. According to the survey, retailers continue to expect growth in short-term sales (in the next three to six months).
FocusEconomics Consensus Forecast participants see private consumption rising 5.1% in 2013, which is down 0.1 percentage points from last month's forecast. For 2014, panellists see private consumption growth at 5.2%.
Author: Carl Kelly, Economist