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View all search resultsRetail sales worsen at year-end amid raging outbreak, protests
Retail sales dropped 16.3 percent in November, the biggest fall since May 2020 and coming on the heels of a 14.9 percent fall in October.
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Visitors are seen at Senayan City mall in Jakarta on Dec. 25, 2020. (Antara/Indrianto Eko Suwarso)
I
ndonesia’s retail sales worsened in November and are expected to drop further in December amid a raging coronavirus outbreak and widespread protests over the Job Creation Law late last year, a further sign that the nation’s economic recovery remained sluggish in the fourth quarter of 2020.
According to a survey published by Bank Indonesia (BI) on Tuesday, retail sales dropped 16.3 percent in November from the same month last year, the biggest fall since May and coming on the heels of a 14.9 percent fall in October. The central bank expected an even deeper contraction of 20.7 percent in December.
Read also: Offline retail still necessary amid e-commerce boom: Business
The survey showed the sales of household and information and communication equipment contracted significantly in November, while sales of clothing and information and communication equipment were expected to drop sharply in December.
“The drop in retail sales is likely due to restrained consumer spending, especially during the large-scale social restrictions in Jakarta, as well as mass protests throughout October and November in several cities,” the central bank said in the survey, adding that further restrictions implemented by the government during the year-end holidays had subdued sales.
“Respondents have also expressed that unfavorable weather had contributed to lower retail sales,” BI went on to say. “But most respondents expect higher sales over the next three to six months in line with bolstered purchasing power and the upcoming religious celebrations.”
The worsening coronavirus outbreak in the country forced the Jakarta administration to reimpose strict social restrictions in the fourth quarter last year, though virus cases continued to rise to reach more than 858,000 infections and 24,900 deaths as of Wednesday.
