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Indonesia: Growth in retail sales moderates in October

Staff Writer |
Retail sales in October expanded 7.6% over the same month last year, according to Bank Indonesia’s Retail Sales Survey (RSS).

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The expansion was below the revised 10.6% increase observed in the previous month (previously reported: +6.6% year-on-year).

According to the Bank, October’s deceleration was driven partly by slower growth in sales of food, beverages and tobacco.

Annual average growth in retail sales inched down from September’s 11.1% to 11.0% in October. According to the survey, retailers expect sales to rise to a 7.9% annual increase in November.

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 5.3%.