JAKARTA - Bank Indonesia (BI) reported that based on the results of the BI survey, retail sales in April 2024 experienced an annual contraction or year on year (yoy).
The contraction is reflected in the April 2024 Real Sales Index (IPR) which recorded a contraction of 236.3 or a contraction of 2.7 percent YoY, after experiencing high growth of 9.3 percent YoY to coincide with the month of Ramadan in March 2024.
Based on its group, several groups experienced contractions such as the Subgroup of Sandang by 15.7 percent (yoy), the Food, Beverage and Tobacco Group by 2.4 percent (yoy), and other Household Equipment by 6.0 percent (yoy) after previously being accelerated in March 2024.
The IPR decline was further restrained by the Parts of the Cadang and Accessori Group by 6.5 percent (yoy) and Motor Vehicle Fuel by 3.3 percent (yoy) which recorded positive growth.
However, on a monthly basis, retail sales were recorded at 236.3 or grew 0.4 percent (mtm) mainly driven by the Information and Communication Equipment Group at 5.4 percent (mtm), Cultural Goods and Recreation by 5.1 percent (mtm).
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Furthermore, food, beverages and tobacco by 0.8 percent (mtm) are in line with community activities during Eid Al-Fitr National Religious Holidays (HKBN).
Meanwhile, in April 2024 retail sales are indicated to still grow monthly in several survey coverage cities.
On a monthly basis, our IPR survey coverage experienced the highest growth in the city of Medan by 14 percent (mtm), followed by Jakarta 4.8 percent (mtm), Manado 3.4 percent (mtm), and Bandung 1.8 percent (mtm).
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