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Financial News: Indonesia Retail Sales Grow Further

Indonesia Retail Sales Grow Further

09/10/2019 - 04:57:00 (RTTNews)

(RTTNews) - Indonesia's retail sales increased in July, after a slump in the previous month, and is estimated to have grown at a faster rate in August, survey data from Bank Indonesia showed on Tuesday.

Retail sales grew 2.4 percent year-on-year in July after a 1.8 percent slump in June. In May, sales rose 7.7 percent. The annual growth in retail sales for August was estimated at 3.7 percent. Sales growth continued to be driven by the strong increase in sales of automobile parts and accessories, a trend witnessed since the start of the year. This is expected to have continued in August.

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