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 a recovery in food, beverages, and tobacco and automotive fuels sales. Moreover, sales for cultural and recreation goods, as well as information and communication equipment, 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.