Indonesia: Growth in retail sales slips in June
August 8, 2018
In June, retail sales grew 2.3% over the same month last year, down from May’s 8.3% rise—which had marked an over one-year high. June’s slowdown was largely caused by the end of Ramadan on 14 June, and was driven by sharp contractions in electronics and clothing sales. Annual average retail sales growth decreased from 2.3% in May to 1.9% in June.
According to the Bank of Indonesia’s June retail sales survey, retail sales are expected to have grown 3.4% in July thanks to strong clothing sales growth—buttressed by the start of the new school year in mid-July—and disbursements to civil servants and retirees.
Author: Jan Lammersen, Economist