Retail Sales of Indonesia

First, let’s check Indonesia’s retail sales (sales of goods and services to consumers) as these data give us valuable information about the purchasing power of Indonesian consumers.

Based on the latest data released by Bank Indonesia, the country’s retail sales inched up 0.2 percent year-on-year (y/y) in December 2023. While December typically has to face the high base effect (due to the Christmas and New Year holiday period when consumption rises), a 0.2 percent (y/y) growth rate is quite soft, and so retail sales growth stays at a very low rate.


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