Indonesia: Retail sales growth slows in March
May 17, 2013
In March, retail sales expanded 10.2% over the same month last year, according to Bank Indonesia's Retail Sales Survey (RSS). The reading was below the 13.5% rise observed in February (previously reported: +13.9% year-on-year). According to the Bank, lower sales of motor vehicles parts and accessories as well as of food, beverages and tobacco led the deceleration in March.
As a result of the lower annual reading, annual average growth edged down from 14.1% in February to 13.9% in March. That said, according to the survey, retailers expect growth in short-term sales (three to six months ahead) to continue to rise.
FocusEconomics Consensus Forecast participants see private consumption rising 5.4% in 2013, which is unchanged from last month's forecast. For 2014, panellists expect private consumption growth at 5.3%.