Indonesia: Growth in retail sales moderates in July
September 18, 2015
Retail sales in July expanded 4.8% over the same month last year, according to Bank Indonesia’s Retail Sales Survey (RSS). The expansion was below the revised 22.3% rise observed in the previous month (previously reported: +22.9% year-on-year) and marked a seven-month low. According to the Bank, July’s moderation was driven partly by declining sales of motor vehicles, parts and accessories as well as by weaker growth in sales of food, beverages and tobacco.
Annual average growth in retail sales fell from 15.8% in June to 14.4% in July. According to the survey, retailers expect sales to increase in August to a stronger 10.6% annual growth rate.