Indonesia Retail Sales Growth Rises to 18.6 pct y/y in July

Bareksa.com - Indonesia's annual retail sales growth more than doubled in July compared to the previous month bolstered by food items, beverages and tobacco as well as communication and information equipment, a Bank Indonesia survey showed on Tuesday.

Retail sales rose 18.6 percent from July on a yearly basis, faster than a revised 8.7 percent in June.

The survey of 650 retailers in 10 major cities showed that businesses expected sales to decline in August as public consumption returned to normal after the Eid al-Fitr holidays.

The survey also showed that retailers expected price pressures to ease in the next three months. (Source : Reuters)