Indonesia: Growth in retail sales reaches an over one-year high in May
July 11, 2018
In May, retail sales grew 8.3% over the same month last year, above April’s 4.1% increase. May’s figure exceeded market expectations of a 4.4% increase and marked the best print since December 2016. Growth was driven by higher sales of fuel products; and food, beverages and tobacco. The monthly expansion received a significant boost from the month of Ramadan, which began on 16 May and ended on 14 June.
Annual average retail sales growth, meanwhile, increased from April’s 1.9% to 2.3% in May. According to the Bank of Indonesia’s May retail sales survey, retailers expected sales to grow 6.8% year-on-year in June.