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Indonesia Retail February 2021

Indonesia: Retail sales worsen in February; improvement expected for March

Retail sales plunged 18.2% in February (January: -16.3% yoy). The sharper drop was largely driven by falling sales of food, beverages and tobacco.

Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 14.7%, down from January’s minus 13.2%.

The Central Bank expects retail sales to have contracted a softer 17.1% in March.

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