Jakarta: Respondents of the latest Retail Sales Survey performed by Bank Indonesia predict positive retail sales growth in December 2022, as indicated by Real Sales Index (RSI) growth of 0.04% (yoy) to a level of 216.4.
Faster growth of Information and Communication Equipment is the main driver of sales performance in the reporting period, reversing the contraction the month earlier.
On a monthly basis, respondents predict 6.3% (mtm) growth, up from 0.4% (mtm) one month earlier.
Increases were recorded across most commodity groups, led by Clothing, Information and Communication Equipment on strong digital TV sales, as well as Food, Beverages and Tobacco in response to seasonal demand during the Christmas national religious holiday (HBKN) and New Year festive period, coupled with various retail discount programs thereby boosting domestic demand.
"In November 2022, annual retail sales growth remained in positive territory, with the Real Sales Index (RSI) expanding 1.3% (yoy) despite moderating from 3.7% (yoy) in the previous period," BI Communication Department Executive Director Erwin Haryono said in a media release on Tuesday.
Retail sales of Cultural and Recreational Goods increased, while sales of Information and Communication Equipment as well as Other Household Equipment improved yet remained in a contractionary phase.
On a monthly basis, positive retail sales performance was recorded at 0.4% (mtm), supported by Other Household Equipment as well as Spare Parts and Accessories, for which sales improved after experiencing contractions the month earlier.
"In terms of prices, respondents anticipate milder inflationary pressures in February and May 2023 due to lower prices given sufficient stock levels, as reflected by respective declines in the 3 and 6-month Price Expectations Index (PEI) to 134.6 and 140.2 from 138.0 and 140.8 (January and April 2023)," he stated.
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