Indonesia: Retail sales growth loses pace in May
Retail sales rose 0.0% in year-on-year terms in May, which followed April’s 1.5% increase. Looking at the details of the release, food, beverages, and tobacco sales weakened in May, while motor vehicles, parts and accessories sales contracted at a milder pace. Lastly, cultural and recreation goods sales decreased at a sharper rate, while information and communication equipment sales fell at a steeper pace than in April.
Meanwhile, the trend pointed down, with the annual average growth of retail sales coming in at 2.5% in May, down from April’s 2.8%.