Growth in retail sales accelerates in Indonesia
The expansion was above the revised 9.9% increase observed in November (previously reported: +10.1% year-on-year).
According to the Bank, faster growth was reported in four of the seven sectors surveyed with sales of food, beverages and tobacco picking up notably.
Annual average growth in retail sales inched down from November’s 11.1% to 11.0%. According to the survey, retailers expect sales to lose steam and grow 9.5% in January.
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%. ■