Indonesia: Retail sales growth improves in June
Retail sales rose 4.4% year on year in June (May: +2.1% yoy). The uptick was largely due to an improvement in food, beverages, and tobacco sales. In contrast, motor vehicles, parts and accessories sales lost steam. Lastly, cultural and recreation goods sales dropped at a weaker rate, while information and communication equipment sales contracted at a softer pace than in the prior month.
Meanwhile, annual average retail sales growth fell to 2.4% in June (May: +2.7%). This signals a worsening trend in the retail trade sector.