July 8, 2020 / 3:19 AM / a month ago

CORRECTED-Indonesia May retail sales contract the most in 12 years, c.bank says

(Correcting milestone in 1st paragraph to November 2008, not October)

JAKARTA, July 8 (Reuters) - Indonesia’s retail sales tumbled 20.6% in May on the year for their biggest fall since November 2008, and accelerating from the previous month’s contraction, a central bank survey showed on Wednesday.

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. (Reporting by Tabita Diela; Editing by Clarence Fernandez)

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