Indonesia retail sales growth falters
Indonesia retail sales growth has fallen to its lowest level since last December.
Data from the monthly Bank Indonesia survey shows sales grew at a mere 4.8 per cent in July, coming off a stellar 22.3 per cent rise in June.
The bank said sales were dented by slowing demand for food, beverages and tobacco.
July’s growth reflected a sluggish economy, despite the first half of the month falling inside the Muslim fasting month of Ramadan, a traditionally busy period for retailers.
The Bank calculates its figures by polling 700 retailers in 10 Indonesian cities. It said retailers were projecting a larger rise in August sales.