Jakarta: The latest edition of the Retail Sales Survey conducted in February 2020 pointed to a deeper retail sales contraction in the reporting period, with the Real Sales Index (RSI) declining -0.8 percent (yoy) compared with -0.3 percent (yoy) in January 2020.
"Survey respondents attributed the decline to Other Goods, Clothing in particular, as well as Cultural and Recreational Goods," Bank Indonesia said in a press release on Wednesday, April 8, 2020.
Retailers are bracing themselves for a deeper sales contraction predicted in March 2020, as reflected by RSI growth of -5.4 percent (yoy).
Respondents expected sales of all commodities included in the survey to contract, led by Clothing, which retailers expected to decline -45.9 percent (yoy) compared with -40.4 percent (yoy) in February 2020.
The latest survey also revealed how retailers are expecting inflationary pressures to intensify in the next three months (May 2020) before subsiding in the next six months (August 2020), as confirmed by an increase in the 3-month Price Expectations Index (PEI) from 165.5 to 173.0 coupled with a decrease in the 6-month PEI from 161.8 to 153.7.