Indonesia: Retail sales rebound in May
Retail sales expanded 4.7% compared to the same month a year earlier in May, which contrasted April’s 2.7% decrease. The notable pickup was partly driven by a rebound in food, beverages, and tobacco sales. In addition, motor vehicles, parts and accessories sales picked up pace. Lastly, cultural and recreation goods sales fell at a softer rate, while information and communication equipment sales fell at a steeper pace than in the prior month.
Meanwhile, the trend improved significantly, with the annual average growth of retail sales coming in at 2.9%, up from April’s 2.1% reading.