Indonesia: Retail sales growth accelerates marginally in April
June 19, 2013
In April, retail sales expanded 9.7% over the same month last year, according to Bank Indonesia's Retail Sales Survey (RSS). The reading was slightly above the 9.3% rise observed in March (previously reported: +10.2% year-on-year). According to the Bank, higher sales of motor vehicles parts and accessories led the acceleration in April.
Despite the higher annual reading, annual average growth inched down from 13.8% in March to 13.7% in April. That said, according to the survey, retailers expect growth in short-term sales (three to six months ahead) to continue to rise on the back of domestic demand.
FocusEconomics Consensus Forecast participants see private consumption rising 5.2% in 2013, which is down 0.1 percentage points from last month's forecast. For 2014, panellists expect private consumption growth at 5.3%.