Indonesia: Retail sales growth loses pace in May
Retail sales grew 14.7% year-on-year in May (April: +15.6% yoy). The slowdown was partly due to a deterioration in food, beverages, and tobacco sales. In contrast, motor vehicles, parts and accessories sales gained steam. Lastly, cultural and recreation goods sales accelerated, while information and communication equipment sales fell at a softer pace than in the prior month.
Meanwhile, the trend improved, with the annual average variation of retail sales coming in at minus 10.3% in May, up from April’s minus 13.1%.
The Central Bank expects retail sales to have expanded a softer 4.5% in June.