August 11, 2014 / 9:25 AM / 3 years ago

Indonesia retail sales growth slows to 8.6 pct y/y in June

JAKARTA, Aug 11 (Reuters) - Indonesia’s annual retail sales growth slowed in June compared to the previous month due to weakening growth for food items, beverages and tobacco as well as vehicle fuel, a Bank Indonesia survey showed on Monday.

Retail sales rose 8.6 percent from June on a yearly basis, slower than a revised 14.7 percent in May. The June growth was the slowest since August 2013.

The survey of 650 retailers in 10 major cities showed expectations that sales will decrease in the next three months as public consumption returns normal after the Eid al-Fitr holidays at the end of July marking the end of the Muslim fasting month.

However, by the end of the year, sales are expected to rebound for the Christmas and New Year holidays.

The survey also showed a preliminary forecast of 12.3 percent annual growth in retail sales in July. (Reporting by Nilufar Rizki; Editing by Richard Borsuk)

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