Record fall in retail sales in Indonesia
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Retail sales in Indonesia have seen the sharpest drop in 12 years, according to a report, based on information from the nation’s central bank.
Territory-wide sales fell 20.6 percent year on year during May, representing the largest contraction in the category since November 2008. The drop was steeper than figures for April, which showed a decline of 16.9 percent.
According to the data, buyers shopping for clothing and recreational items showed the greatest reduction in spending since that manifested in last month’s figures in May.
There remains a little prospect for relief in the immediate future, with the bank’s survey predicting last month’s figures to reveal a 14.4-per-cent drop.
Questions & Answers
Q.When did Indonesia last experience such a significant fall in retail sales?
When did Indonesia last experience such a significant fall in retail sales?
The retail sales contraction in May was the largest seen in Indonesia since November 2008, making it the sharpest drop in 12 years.
Q.Which specific retail categories saw the biggest drop in spending during May?
Which specific retail categories saw the biggest drop in spending during May?
Buyers of clothing and recreational items showed the greatest reduction in spending during May, according to the available data.
Q.How do May's retail sales figures compare to the previous month's performance?
How do May's retail sales figures compare to the previous month's performance?
The drop of 20.6 percent in May was steeper than April's decline, which had shown a decrease of 16.9 percent.
Q.What is the central bank's forecast for retail sales in the immediate future?
What is the central bank's forecast for retail sales in the immediate future?
The central bank's survey predicted that last month's figures would show a further drop of 14.4 percent, indicating little prospect of immediate relief.
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