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Indonesia Retail June 2020

Indonesia: Decline in retail sales softens in June amid easing of Covid-19 restrictions, but remains marked

Retail sales slid 17.1% compared to the same month a year earlier in June, which was a less pronounced drop than May’s 20.6% decrease.

June’s reading reflected softer declines in the food, beverages, and tobacco, motor vehicles, parts and accessories and automotive fuels sub-sectors. Meanwhile, the trend pointed down, with the annual average variation of retail sales coming in at minus 4.3%, down from May’s minus 3.0% reading.

The Bank expects retail sales to have contracted a milder 12.3% in July as economic activity continues to gradually normalize. However, July’s reading still suggests extremely weak private consumption at the outset of Q3.

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