Indonesia: Growth in retail sales stays strong in June
July 17, 2015
Retail sales in June expanded 22.9% over the same month last year, according to Bank Indonesia’s Retail Sales Survey (RSS). The expansion was stronger than the 20.5% rise observed in the previous month. According to the Bank, June’s expansion was driven by strong growth of sales of information and communication equipment as well as of food, beverages and tobacco.
Annual average growth in retail sales increased 14.6% in May to 15.8% in June, which marked the highest result in seven months. According to the survey, retailers expect sales to slide to a 2.1% annual growth rate due to weaker consumer spending during Ramadan.
Author: Carl Kelly, Economist