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Indonesia Retail Sales Growth Slows to 15% in May

Indonesia's annual retail sales growth slowed in May compared to the previous month due to slower paces of purchases of food, beverages and tobacco.

JAKARTA (Reuters) — Indonesia’s annual retail sales growth slowed in May compared to the previous month due to slower paces of purchases of food, beverages and tobacco, a Bank Indonesia survey showed on Tuesday.

Retail sales rose 15.0 percent from May year-on-year, slower than a revised 15.9 percent in April.

The survey of 650 retailers in 10 major cities showed expectations that sales will slow in the next three months, after consumption returns to normal following the Muslim fasting month.

The survey also showed a preliminary forecast for annual growth in retail sales in June of 11.8 percent to reflect weakening demand for cultural and recreational goods.