BI Survey: Indonesia's retail sales rise 1.1% y/y in Aug

Dhwani Mehta FXStreet

According to the latest survey conducted by Bank Indonesia (BI), the Indonesian central bank, released earlier on Wednesday, Indonesia's retail sales rose 1.1% on the year in August vs. a 2.4% rise seen in July.

The survey also predicted retail sales would rise 2.1% on an annual basis in September, Reuters reports.

Retail sales were mainly driven by automotive spare parts and accessories as well as household goods such as electronics and furniture.

Amid slower pace of growth in the domestic retail sales, the Indonesian Rupiah (IDR) remains on the back foot, with USD/IDR holding near four-day tops of 14,185, up +0.20% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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