Fourth Quarter Retail Sales Expect Slower Growth

INDUSTRY.co.id - Jakarta - Bank Indonesia through its survey estimates that retail sales in the fourth quarter of 2017 only grew 2.4 percent (year on year / yoy) or slowed compared to the same period of 2016 which was 9.5 percent (yoy).

Based on a survey of retail sales of 700 retailers as of November 2017, retail sales in the fourth quarter will be driven by sales of food, beverage and tobacco groups that grew 8.4 percent (yoy), as well as sales improvements clothing that rose 1.1 percent (yoy).

The average annual growth of the real sales index of the fourth quarter of 2017 is 2.4 percent (yoy), higher than the curve III 2017 of 0.2 percent (yoy), but lower than the fourth quarter of 2016 which is 9.5 percent yoy), writes BI.

However, according to the Central Bank, when compared to the third quarter of 2017, retail sales grew positively as in the previous quarter retail sales only rose 0.2 percent (yoy).

For example, sales of clothing in the IV quarter grew by 1.1 percent indicated a significant improvement as in the third quarter of 2017 it declined 2.6 percent (yoy). Sales of food, beverage and tobacco group which grew 8.4 percent (yoy) also showed improvement because in the third quarter it only grew 5.1 percent (yoy).

The Central Bank survey also predicted a decline in prices at the retailer level in February 2018.

The indications are reflected in the next three months or February 2018, which are 152.8 lower than 154.9 in January 2018.

Expectations of the decline in price pressures came as retailers suspect fuel price increases, LPG and electricity tariffs in January 2018.