Indonesia: Retail sales slow in July
September 12, 2013
Retail sales expanded 9.1% over the same month last year in July, according to Bank Indonesia's Retail Sales Survey (RSS). The expansion was below the 14.9% rise observed in June (previously reported: +14.8% year-on-year). According to the Bank, the increase was driven by all categories of the index with the exception of motor vehicle parts and accessories. The highest increase was recorded in sales of information and communication equipment.
Annual average growth fell from 13.9% in June to 13.0% in July. According to the survey, in August retailers expect sales to grow at a slower pace of 1.1% on an annual basis.
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 growth in private consumption at 5.2%.
Author: Carl Kelly, Economist