Retail Sales Fall in September 2023, Lowest Since the Beginning of the Year

Economics & Macro

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Adi Ahdiat 25/10/2023 20:10 WIB

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Bank Indonesia estimates that the national real sales index fell to 200.2 in September 2023, reflecting a decline in consumer spending.

Indonesia Real Sales Index (January 2022-September 2023)

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Indonesia Real Sales Index (January 2022-September 2023)

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Bank Indonesia (BI) estimates that the national Real Sales Index (RSI) decreased from 204.07 in August 2023 to 200.2 in September 2023.

The RSI is an indicator of household consumption monitored through the performance of retail traders.

When the RSI increases, real sales by retail traders are assumed to increase, also indicating an increase in public consumption.

Conversely, if the RSI decreases, retail sales and public consumption are assumed to decrease.

BI compiles the RSI based on a survey of approximately 700 respondents from retail traders in modern markets (supermarkets and hypermarkets) and traditional markets.

The respondents are spread across 9 cities: DKI Jakarta, Bandung, Semarang, Surabaya, Denpasar, Banjarmasin, Makassar, Manado, and Medan.

The survey collected quantitative and qualitative data, including the traders' monthly turnover and their opinions on price developments.

As a result, BI estimates that the RSI in September 2023 fell by 1.9% compared to the previous month (month-on-month), reaching its lowest level since the beginning of this year.

Based on BI data, a month-on-month decrease in the sales index occurred in all surveyed retail sectors: spare parts and accessories; food, beverages, and tobacco; motor vehicle fuel; information and communication equipment; household goods; cultural and recreational goods; and other goods.

However, compared to September 2022, the sales index in September of this year was slightly better, growing by 1% (year-on-year).

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."