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Retail sales slip in January following holiday season
Bank Indonesia also revealed that retailers project stronger demand during the upcoming fasting month, as reflected in the rising sales expectations subindex for the three-month outlook.
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Digital marketing: Employees of a pharmaceutical store promote baby care products through live streaming at ITC Fatmawati trade center in South Jakarta on Jan. 25, 2023. (Antara/Fitra Ashari)
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etail sales have dropped in January in a seasonal effect following the end of the Christmas and New Year holiday season, according to preliminary data from Bank Indonesia (BI).
The retail sales index (RSI) is projected to decrease by 1 percent to 216 points in January from a reading of 218.1 points in December last year, according to survey results released by the central bank on Friday.
However, at the projected value, the RSI for January would still be up 3.7 percent from the same month last year.
“The majority of segments are in a contraction phase, such as fuel, fashion and recreation, which experienced monthly drops of 3.9, 3 and 2.7 percent, respectively,” BI official Erwin Haryono said in a press statement on the data release.
