Indonesia Retail Sales Growth Eases To 2.7%

(RTTNews) - Indonesia's retail sales growth moderated in August after accelerating in the previous month, preliminary data from the Bank Indonesia showed on Thursday.

Retail sales rose 2.7 percent year-on-year in August, slower than the 4.7 percent rise a month ago. Sales have been rising since May.

The growth was driven by more sales of spare parts and accessories and automotive fuel, as well as cultural and recreational goods.

On a monthly basis, the decline in retail sales softened markedly to 0.3 percent in August from 4.1 percent in July. The steeper decline in July was due to the end of the collective leave period for religious holidays as well as the school holidays.