Indonesia: Retail sales expand at quickest pace in over a year in June
Retail sales rose 15.4% year on year in June (May: +2.9% yoy). The print marked the best result since April 2021. June’s upturn was primarily due to pickups in food, beverages, and tobacco and motor vehicles, parts and accessories sales. Conversely, cultural and recreation goods sales lost pace, while information and communication equipment sales dipped at a steeper pace than in the previous month.
Meanwhile, annual average retail sales growth rose to 7.2% in June (May: +6.1%). This signals an improving trend in the retail trade sector.