Indonesia: Growth in retail sales accelerates in November

Retail sales in November expanded 11.2% over the same month last year, according to Bank Indonesia’s Retail Sales Survey (RSS). The expansion was above the 8.7% increase observed in the previous month and marked the highest print in five months. According to the Bank, November’s increase was driven mainly by strong sales of information and communication equipment.

Annual average growth in retail sales moderated from 12.8% in October to 12.6%, which marked the lowest reading in two years. According to the survey, retailers expect sales to decelerate in December to a 6.7% annual increase.

Met the why particular Consensus Forecast participants see private consumption rising 5.1% in 2016, which is unchanged from last month’s forecast. For 2017, panelists see growth in private consumption at 5.3%.