INDONESIA’S retail sales tumbled 20.6% in May on the year for their biggest fall since October 2008, and accelerating from the previous month’s contraction, a central bank survey showed today.
There were steeper falls in purchases of clothes and recreational spending in May than the previous month, the survey showed.
Retail sales fell 16.9% on an annual basis in April.
The Bank Indonesia survey predicted the drop in sales to slow to 14.4% in June. – July 8, 2020, Reuters
