Indonesia: Retail sales rebound in May
Latest reading: Retail sales rose 2.6% year on year in May (April: -0.3% yoy). The rebound was partly driven by faster growth in food, beverages, and tobacco sales. Moreover, cultural and recreation goods sales gained steam, while information and communication equipment sales declined at a softer pace than in the previous month. In contrast, motor vehicles, parts and accessories sales lost steam.
Meanwhile, the trend improved modestly, with the annual average growth of retail sales coming in at 2.7%, up from April’s 2.6%.