Indonesia Retail April 2021

Indonesia

Indonesia: Retail sales record quickest growth since June 2016 in April

June 10, 2021

Retail sales increased 15.6% year-on-year in April (March: -14.6% yoy). The result marked the best result since June 2016. April's notable rebound came on the back of recoveries in food, beverages, and tobacco and motor vehicles, parts and accessories sales. Lastly, cultural and recreation goods sales dropped at a softer rate, while information and communication equipment sales declined at a softer pace than in the prior month.

Meanwhile, the trend improved significantly, with the annual average variation of retail sales coming in at minus 13.1%, up from March's minus 15.5% reading.

The Central Bank expects retail sales to have expanded a softer 4.5% in June.

FocusEconomics Consensus Forecast participants see private consumption rising 4.7% in 2021, which is down 0.2 percentage points from last month’s forecast. For 2022, panelists see private consumption increasing 5.3%.


Author: Massimo Bassetti, Senior Economist

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Indonesia Retail April 2021 0

Note: Year-on-year and annual average variation in retail sales in %.
Source: Bank Indonesia (BI) and FocusEconomics calculations.


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