Indonesia: Retail sales rebound in February

In February, retail sales rose 1.5% over the same month of the previous year, contrasting January’s 1.8% contraction. Growth was broad-based, and clothing sales recorded the strongest increase.

The trend continued to point downwards in February and annual average growth came in at a multi-year low of 2.1% (January: 2.2%). According to the survey, retailers expect sales to grow 1.7% in March.

Indonesia Private Consumption Forecast

FocusEconomics Consensus Forecast participants see private consumption rising 5.1% in 2018, which is unchanged from last month’s forecast. For 2019, panelists see growth in private consumption broadly steady at 5.2%.