Michelle Natalia
IDXChannel - Respondents of the latest Retail Sales Survey conducted by Bank Indonesia (BI) expect retail sales to remain solid in July 2023, as reflected by a Real Sales Index (RSI) of 212.7, accompanied by positive growth of 6.3% (yoy).
"Solid retail sales performance is driven by Food, Beverages, and Tobacco as well as Clothing, for which growth remained in positive territory, as well as improving sales of Spare Parts and Accessories," said BI Communication Department Executive Director Erwin Haryono said in a media release on Wednesday (9/8/2023).
On a monthly basis, however, respondents predict a 4.6% (mtm) retail sales contraction in July 2023, with Food, Beverages, and Tobacco followed by Cultural and Recreational Goods as well as Automotive Fuels expected to experience declines as demand normalises after the recent school holidays, national religious holidays, and collectively leave days.
In June 2023, the Real Sales Index (RSI) expanded 7.9% (yoy) to a level of 222.9 after contracting 4.5% (yoy) the month earlier.
"Respondents confirmed broad-based growth across most commodity groups, led by Food, Beverages, and Tobacco, followed by Automotive Fuels and Clothing," he stated.
