Indonesia: Retail sales fall at sharpest rate since September 2021 in April
Retail sales decreased 0.5% in year-on-year terms in April, which contrasted March’s 9.3% increase. April’s outturn marked the worst reading since September 2021. The notable downturn was primarily due to decelerating food, beverages and tobacco, and motor vehicles, parts and accessories sales. Lastly, cultural and recreation goods sales decreased at a sharper rate.
Consequently, annual average retail sales growth fell to 6.3% in April (March: +7.7%). This signals a worsening trend in the retail trade sector.