Indonesia Retail August 2022

Retail sales rose 5.4% year over year in August, which followed July’s 6.2% increase. The lower reading was largely due to slowing sales of cars, parts and accessories, and sales of auto fuel. However, sales of food, beverages and tobacco gained traction. Finally, sales of cultural and leisure goods fell, while sales of information and communications equipment fell at a sharper pace than in the previous month.

Meanwhile, average annual retail sales growth rose to 7.6% in August (July: +7.0%), indicating an improving trend in the retail sector.

FocusEconomics Consensus respondents see private consumption rising 5.3% in 2022, 0.2 percentage points higher than last month’s forecast. For 2023, committee members see private consumption increase by 5.0%.

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