Retail Sales Performance Strengthened in March 2022

Economics & Macro

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Vika Azkiya Dihni 13/05/2022 15:40 WIB

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Bank Indonesia's (BI) survey reveals that retail sales performance grew month-on-month in March 2022. This is evident from the Real Retail Sales Index (RRSI) of 205.3, a 2.6% increase.

Indonesia Real Sales Index (March 2021-March 2022)

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Retail Sales Performance Strengthened in March 2022

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Indonesia Real Sales Index (March 2021-March 2022)

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Bank Indonesia (BI) survey reveals that retail sales performance strengthened in March 2022 compared to the previous month.

This is reflected in the Real Retail Sales Index (IPR) which reached 205.3 in March 2022, a 2.6% increase from 200 in February 2022 (month-to-month/m-to-m).

This growth is the first since the beginning of 2022. Previously, in January 2022, retail sales performance fell by 3.1% (m-to-m). Similarly, in February, it contracted by 4.5% (m-to-m).

According to BI, the growth in retail sales in March 2022 was influenced by increased consumer demand. This is in line with the easing of activity restrictions, declining Covid-19 cases, and the start of Ramadan preparations.

The increase in retail sales occurred in most groups, especially spare parts and accessories which grew by 12.1% (m-to-m), other household goods grew by 7.4% (m-to-m), and the clothing sub-group grew by 4.6% (m-to-m).

Annually, retail sales performance remained high at 9.3% (year-on-year/yoy), although it slowed compared to the previous month's growth of 12.9% (yoy).

Retail sales showed a slowdown in annual growth in the groups of motor vehicle fuel, food, beverages and tobacco, and the clothing sub-group.

On the other hand, sales of information and communication equipment showed a year-on-year decline.

Spatially, monthly retail sales grew highest in Semarang City (including Purwokerto), at 47.9% (m-to-m). This was followed by Manado at 30.5% (m-to-m) and Makassar at 7.1% (m-to-m).

Meanwhile, retail sales slowed in Surabaya City by 22.1% and Denpasar by 2.4% year-on-year (yoy). Sales also declined in Banjarmasin City by -1.4% (yoy).

(Read Also: BI Survey: Retail Prices Predicted to Rise in May 2022)

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."

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Retail Sales Performance Strengthened in March 2022

Retail Sales Performance Strengthened in March 2022

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Retail Sales Performance Strengthened in March 2022

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