Jakarta: The latest Retail Sales Survey conducted by Bank Indonesia (BI) revealed a further sales slump in March 2020, as confirmed by a deeper -4.5 percent (yoy) contraction in the Real Sales Index (RSI) compared with -0.8% (yoy) in February 2020.
Retail sales shrank on the back of contractions affecting all commodity groups, except Food, Beverages and Tobacco, for which sales have remained solid.
"Survey respondents reported the deepest sales decline affecting Other Goods, Clothing in particular," BI said in a statement on Tuesday, May 12, 2020.
Respondents predicted further contraction in sales, with the RSI in April 2020 sinking to -11.8 percent (yoy) and affecting all commodities surveyed.
Again, respondents expected the deepest sales decline to affect Other Goods, especially Clothing, deteriorating to -67.3 percent (yoy) from -60.5% percent (yoy) in March 2020.
The most recent survey also pointed to milder inflationary pressures at the retail level in the next three and six months (June and September 2020), with the 3- and 6-month Price Expectations Index (PEI) decreasing to 160.7 and 153.0 respectively from 173.0 in May 2020 and 153.7 in August 2020 in line with compressed demand.