Indonesia retail december 2022

Retail Sales increased 0.0% YoY in December (November: +1.3% YoY). The result was the worst reading since September 2021. The decline in December was mainly driven by contractions in motor vehicles, parts and accessories and motor fuel sales. Finally, the pace of sales of cultural and leisure goods slowed down, while sales of information and communication equipment gained momentum.

Meanwhile, average annual retail sales growth fell to 5.9% in December (November: +7.1%), its lowest level in ten months.

Respondents to the FocusEconomics Consensus forecast see private consumption rising 4.8% in 2023, unchanged from last month’s forecast. For 2024, committee members see private consumption increasing by 5.3%.

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