Indonesian retail sales in March expanded 4.2% over the same month last year, according to Bank Indonesia’s Retail Sales Survey (RSS). The expansion was above the 3.7% increase observed in February. According to the Bank, a faster pace of growth in sales of food, beverages and tobacco drove the result.
Annual average growth in retail sales, however, fell from February´s 9.8% to 9.3% in March. According to the survey, retailers expect sales growth to further accelerate to 5.4% in April.
FocusEconomics Consensus Forecast participants see private consumption rising 5.1% in 2017, which is unchanged from last month’s forecast. For 2018, panelists see growth in private consumption at 5.2%.
Author: Nihad Ahmed, Economist
Note: Year-on-year and annual average variation in %.
Source: Bank Indonesia (BI) and FocusEconomics calculations.