BI Survey: Retail Sales Index Grew 7.6% in December 2021

Retail sales performance in December 2021 showed improvement. Bank Indonesia (BI) recorded a real sales index of 216.3 in December 2021, a 7.6% increase compared to the previous month (month-to-month/m-to-m).

The month-on-month increase in sales occurred in most groups, particularly the clothing subgroup and the food, beverage, and tobacco group.

This was driven by increased demand during the National Religious Holiday (HBKN) Christmas and year-end holidays. Details are as follows:

* Clothing group grew by 13.3% (m-to-m)
* Food, beverage, and tobacco group grew by 9%
* Fuel and motor vehicle group grew by 6.5%
* Spare parts and accessories group grew by 3.5%
* Information and communication equipment group grew by 2.7%
* Cultural goods and recreation group grew by 2.6%
* Other household goods group decreased by 2.7%

The growth in retail sales performance in December 2021 was higher than the previous month. In November 2021, the Retail Sales Index (RSI) grew by 2.8% (m-to-m).

Year-on-year growth was also higher. The index grew by 13.8% in December 2021 (year-on-year/yoy), compared to 10.8% (yoy) in November 2021.

The RSI is expected to contract by 2.4% (m-to-m) in January 2022. This decrease is in line with the seasonal pattern of normalized demand after the Christmas and New Year HBKN celebrations. Nevertheless, the RSI is expected to grow by 16% year-on-year (yoy).

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