Indonesia: Retail sales drop in July due to timing of Ramadan
September 11, 2017
In July, retail sales decreased 3.3% over the same month last year, contrasting June’s 6.3% increase. The result marked the first contraction in over five years. The drop was largely due to a seasonal drop in demand caused by the Ramadhan and Eid-ul-Fitr holidays. Sales of food and beverages fell in July along with sales of automotive fuels.
The trend pointed downwards in July and annual average growth came in at a multi-year low of 6.2%, after recording 7.1% in June. According to the survey, retailers expect sales to rebound in August and rise 5.3%.