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View all search resultsRetail sales, consumer confidence ease as Idul Fitri boost dissipates
Newly released data reflects a normalization in consumer sentiment after heightened demand earlier in the year driven by the Idul Fitri holiday period, and tighter monetary policy may weigh on consumer confidence and retail sales in the months ahead.
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Costly plastic: Residents buy plastic products on April 6 at Johar Market in Semarang, Central Java. Prices of plastic-based products at the market have risen since early April due to disrupted raw material imports from the Middle East. (Antara/Aprillio Akbar)
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ewly released data reflects a normalization in consumer sentiment after heightened demand earlier in the year driven by the Idul Fitri holiday period, and tighter monetary policy could weigh on consumer confidence and retail sales in the months ahead.
According to preliminary data published by Bank Indonesia (BI) on Thursday, the retail sales index (RSI) was projected to have declined to 225 points in May, marking a 0.9 percent decrease from 226.9 points registered in the preceding month and a 3.1 percent contraction from 232.4 points in the same month of last year.
BI spokesperson Ramdan Denny Prakoso pointed out in a statement released together with the data that the monthly decline “is better” than the previous month’s 11.6 percent drop.
The central bank attributed the decline over the past two months to a normalization from the seasonal boost during Ramadan and the festivities marking its end, which typically generate increased economic activity and fell primarily in March this year.
Most commodity groups experienced either subpar annual sales growth or outright contraction in May, save for spare parts and accessories, which grew by 16.6 percent year-on-year (yoy).
By contrast, sales of information and communication products, which includes phones and computers, plunged by 17.5 percent yoy, according to the projection, continuing a trend of double-digit contraction that began in March of last year.
In a month-to-month comparison, only two of eight commodity groups saw increased retail sales, namely information and communication products and household appliances.
