Indonesia: Decline in retail sales softens in August
Retail sales declined 2.1% compared to the same month of the previous year in August, which was above July’s 2.9% decrease. Looking at the details of the release, food, beverages, and tobacco sales grew at a softer pace in August, while motor vehicles, parts and accessories sales dropped at a milder pace. Lastly, cultural and recreation goods sales fell at a softer rate, while information and communication equipment sales declined at a softer pace than in the previous month.
Meanwhile, the trend improved, with the annual average variation of retail sales coming in at a one-year high of minus 7.3%, up from July’s minus 7.9% reading.