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Indonesia: Growth in retail sales decelerates in January

Indonesia retail salesIndonesian tetail sales in January expanded 6.3% over the same month last year, according to Bank Indonesia’s Retail Sales Survey (RSS).

The expansion was below the 10.5% increase observed in December and marked the worst result since August 2015.

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According to the Bank, growth deteriorated in all but one of the seven sectors surveyed with sales of household equipment the only category to improve from December’s result.

Annual average growth in retail sales fell from December’s 11.0% to 10.4%. According to the survey, retailers expect sales to be stable and growth 6.3% annually in February.

FocusEconomics Consensus Forecast participants see private consumption rising 5.2% in 2017, which is unchanged from last month’s forecast.

For 2018, panelists see growth in private consumption at 5.3%.

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