Indonesia’s retailers appear to be among Asia’s most pessimistic.
One month ago after government data showed a 19.8 per cent rise in May retail sales, the 700 retailers polled to create the index said they expected sales growth would slow in June.
This week, the government has released revised figures showing a 20.6 per cent increase in May – and a massive 22.9 per cent rise in June, only just behind April’s 23.1 per cent.
In this month’s poll, they said they expected sales growth to slow in September as demand returned to normal after the Ramadan festivities.
The Bank of Indonesia said June’s Indonesia retail sales increase was largely attributable to greater demand for food, beverages and tobacco, in line with increased consumption during the Muslim fasting month of Ramadan.
