Indonesia: Retail sales record best reading since April 2022 in June
Retail sales expanded 8.0% year on year in June (May: -4.5% yoy). June’s print marked the best reading since April 2022. June’s rebound was primarily driven by rebounds in food, beverages, and tobacco and automotive fuels sales. Lastly, cultural and recreation goods sales contracted at a softer rate, while information and communication equipment sales contracted at a softer pace than in May.
Meanwhile, annual average retail sales growth rose to 2.4% in June (May: +2.1%), signaling an improving trend in the retail trade sector.