Retail sales in Indonesia drop dramatically
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Retail sales in Indonesia have fallen by 16.9 percent during the month of April compared to last year, according to government data.
The drop is the steepest within the territory in 14 years and is the result of a steady decline in retail sales of a range of products surveyed by the Indonesian central bank.
The decline is 4.5-per-cent deeper than comparable figures for the previous month, while retail sales in Indonesia declined by a more modest 0.8 percent during February.
Even worse figures are expected for May, however, as the advent of Covid-19 saw people forced to implement social distancing.
The Bank Indonesia now predicts sales figures to show a heavy 22.9-per-cent fall in volume year on year for last month.
Questions & Answers
Q.What was the retail sales decline in Indonesia for April?
What was the retail sales decline in Indonesia for April?
Retail sales in Indonesia fell by 16.9 percent in April compared to the previous year. This drop was the steepest recorded within the territory in 14 years, according to government data.
Q.How does the April decline compare to previous months?
How does the April decline compare to previous months?
The 16.9 percent decline in April was 4.5 percentage points deeper than the comparable figures for March. In contrast, retail sales declined by a more modest 0.8 percent during February.
Q.What is the forecast for retail sales in May?
What is the forecast for retail sales in May?
Bank Indonesia now anticipates an even worse performance for May, predicting sales figures to show a substantial 22.9 percent fall in volume year on year. This is attributed to social distancing measures.
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