Indonesia Retail August 2022

Retail sales rose 5.4% in year-on-year terms in August, which followed July’s 6.2% increase. The lower reading was largely due to a slowdown motor vehicles, parts and accessories and automotive fuels sales. However, food, beverages, and tobacco sales gained steam. Lastly, cultural and recreation goods sales lost pace, while information and communication equipment sales dipped at a steeper pace than in the prior month.

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

FocusEconomics Consensus Forecast participants see private consumption rising 5.3% in 2022, which is up 0.2 percentage points from last month’s forecast. For 2023, panelists see private consumption increasing 5.0%.