Indonesia Retail Sales Decline Slows In February

(RTTNews) - Indonesia retail sales declined at a softer pace in February, results of a survey by Bank Indonesia showed on Tuesday.

Retail sales fell 0.7 percent month-on-month in February, following a 4.3 percent decline in January.

The pace of decline slowed due to the seasonal spike in demand during the Chinese New Year festival period in the middle of February.

The ongoing enforcement of public activity restrictions (PPKM) as well as inclement weather also impacted sales.

Sales of information and communication equipment and spare parts and accessories grew in February.

On a yearly basis, retail sales declined 16.5 percent in February, following a 16.4 percent fall in the previous month.

Sales of clothing, culture and recreation goods, spare parts and accessories, and information communication equipment improved in February, but remained lower compared to a year ago.

Retailers expect a build-up of inflationary pressure in the three months ending April 2021 before dissipating in the July 2021 quarter.