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Retail sales growth in Indonesia slowed to 8.6% in June
Publication Date : 12-08-2014
Indonesia’s annual retail sales growth slowed in June compared to the previous month due to weakening demand for food items, beverages and tobacco as well as vehicle fuel, a Bank Indonesia survey showed on Monday.
Retail sales rose by 8.6 per cent from June on a yearly basis, slower than a revised 14.7 per cent in May. The June growth was the slowest since August 2013, according to reports.
The survey of 650 retailers in 10 major cities showed expectations that sales would further decline in the next three months as public consumption returns normal after the Idul Fitri holidays at the end of July marking the end of the Muslim fasting month.
However, by the end of the year, sales are expected to rebound for the Christmas and New Year holidays.
The survey also showed a preliminary forecast of 12.3 per cent annual growth in retail sales in July.