Indonesian retail sales slip in February
Indonesian retail sales declined by 0.8 per cent year on year during February.
The drop was brought about by a decline in demand for clothing, as well as a blanket downturn in recreational spending, according to the monthly Bank Indonesia survey.
The sales decline occurred as the Indonesian administration was claiming zero cases of the Covid-19 coronavirus had been reported in the country. Indonesia announced its first confirmed case in March, and is currently approaching 3000 infections.
Sales figures in the territory have been falling since last December, which yielded a 0.5 per cent decline in Indonesian retail sales. Trading figures in January contracted 0.3 per cent.
The central bank’s survey predicted March Indonesian retail sales will contract further, with a year-on-year drop of 5.4 per cent in key categories.