Retail Sales Predicted to Slow in November 2021

Bank Indonesia (BI) estimates that retail sales in November 2021 grew at a slower pace compared to the previous month. This is reflected in the Real Retail Sales Index (IPR), which is estimated at 199.7 points in November 2021, growing by 2.2% (month-to-month/m-to-m).

In the previous month, retail sales growth reached 3.2% (m-to-m). The slowdown in retail sales in November occurred in the apparel sub-group, which is predicted to have grown by 5.4% (m-to-m), lower than the previous month's growth of 11.5% (m-to-m). The motor vehicle fuel group is predicted to have grown by 7.5% (m-to-m), slowing down from the previous month's growth of 10.8% (m-to-m).

Respondents attributed the slowdown to unfavorable weather conditions and the potential for a resurgence in COVID-19 cases.

On the other hand, several commodity groups recorded increased retail sales growth in November 2021. The spare parts and accessories group is predicted to have grown by 5% (m-to-m), higher than the previous month's growth of 4% (m-to-m).

The other household goods group is predicted to have grown by 3.7% (m-to-m) in November 2021. This growth is higher than the previous month's 3.6% (m-to-m).

Annually, retail sales in November 2021 are predicted to have grown by 10.1% (year-on-year/yoy). This growth increased from the previous month's 6.5% (yoy).