Indonesia: Retail sales pick up in February
April 9, 2013
In February, retail sales expanded 13.9% over the same month last year, according to Bank Indonesia's Retail Sales Survey (RSS). The reading was above the 8.2% increase observed in January (previously reported: +7.2% year-on-year). According to the Bank, sales of motor vehicles parts and accessories as well as of other goods led the acceleration in February.
As a result of the higher annual reading, annual average growth edged up from 14.0% in January to 14.2% in February. Moreover, 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 up 0.1 percentage points from last month's forecast. For 2014, panellists expect private consumption growth at 5.3%.