Indonesian retail sales down last February
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Indonesian retail sales declined by 0.8 percent year on year during February.
The drop was brought about by a decline in demand for clothing, as well as a blanket downturn in recreational spending, according to the monthly Bank Indonesia survey.
The sales decline occurred as the Indonesian administration was claiming zero cases of the Covid-19 coronavirus had been reported in the country. Indonesia announced its first confirmed case in March, and is currently approaching 3000 infections.
Sales figures in the territory have been falling since last December, which yielded a 0.5 percent decline in Indonesian retail sales. Trading figures in January contracted 0.3 percent.
The central bank’s survey predicted March Indonesian retail sales will contract further, with a year-on-year drop of 5.4 percent in key categories.
Questions & Answers
Q.What specifically caused the decline in Indonesian retail sales in February?
What specifically caused the decline in Indonesian retail sales in February?
The drop in sales was primarily due to reduced demand for clothing and a general decrease in recreational spending. This information comes from the monthly Bank Indonesia survey.
Q.Have retail sales in Indonesia been falling for a while, or is this a recent development?
Have retail sales in Indonesia been falling for a while, or is this a recent development?
Retail sales figures in the territory have been falling since last December. There was a 0.5 percent decline in December and a 0.3 percent contraction in January before the February drop.
Q.What is the prediction for Indonesian retail sales in March?
What is the prediction for Indonesian retail sales in March?
The central bank’s survey predicts that Indonesian retail sales will contract further in March. A year-on-year drop of 5.4 percent is expected in key categories.
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