Indonesia's June retail sales rise 6.3% y-o-y: survey

[JAKARTA] Indonesia's retail sales in June grew 6.3 per cent from a year earlier, accelerating from the previous month but significantly slower than in June last year, a central bank survey showed on Wednesday.

Retail sales in May rose 4.3 per cent from a year earlier. The annual growth rate in June 2016 was 16.3 per cent.

The survey of 700 retailers in 10 major cities forecast retail sales would contract three per cent in July from a year earlier as demand fell after the Eid al-Fitr festivity.

Respondents expect price pressures to ease by September, but prices would probably go up by December, the survey found.

Indonesia's economic growth in the second quarter was 5.01 per cent, below market expectations, as private consumption remained sluggish.

REUTERS