Bank Indonesia (BI) decided to relaxes the macro-prudential intermediation and loan to value (LTV) ratios to strengthening banking intermediary function -Photo: Special
JAKARTA (The Insider Stories) – Bank Indonesia (BI) predicted, the country’ Retail Sales Index (RSI) will drop in the first semester of 2019, indicated by the General Price Expectation Index (GPEI). The survey said, the upcoming three-month Sales Expectation Index dropped to 141.3, compared to previous quarter of 143.3.
Meanwhile, in the upcoming six-month the Sales Expectation Index will also dropped to 148.8, compared to previous month of 149.3. Lot of holidays during first semester of this year become the main factors of the estimating number.
The survey results also indicate a decrease in price pressure at the retail trader level in the next three months. This indication is reflected in the upcoming three-month Price Expectation Index of 156.9 lower than 160.1 in the previous month.
The Bank noted, Indonesia Retail Sales Index in December 2018 grew 7.7 percent, higher than 3.4 percent in November 2018. The increase in retail sales was supported by the food, beverage and tobacco group, cultural and recreational goods, other household appliances, and accessories parts.
Overall, RSI in 2018 showed better performance compared to 2017. This was reflected in the average growth in the 2018 of 3.7 percent, higher than the average in 2017 of 2.9 percent.
BI noted, Retail Sales Index are predicted to maintain positive growth in January 2019. This is indicated by RSI in January 2019 which grew 4.8 percent, supported by sales of the motor vehicle fuel, cultural and recreational goods, and clothing sub-group.
However, this growth was restrained compared to growth in the previous period, in accordance with historical patterns at the beginning of the year.
by Linda Silaen and Staff Editor, Email: