BI East Java forecasts Surabaya retail sales to remain stable in May

Surabaya, East Java (ANTARA) - Bank Indonesia East Java predicts that retail sales in Surabaya will remain stable in May 2026, according to the Retail Sales Survey (SPE).

“The retail sales performance in Surabaya City in May 2026 is projected to remain stable,” said the Head of the Bank Indonesia East Java Representative, Ibrahim, in Surabaya on Thursday.

This is reflected in the Real Sales Index (IPR) for May 2026, which is projected to reach 473.4, remaining relatively stable compared to the April 2026 realisation of 473.3.

The stability in sales activity is supported by increased public demand during the period of National Religious Holidays (HBKN), which includes the Ascension of Jesus Christ, Eid al-Adha, and Vesak.

On an annual basis, retail sales in May 2026 are projected to experience a contraction of 3.1 per cent (year-on-year/yoy), yet this shows an improvement compared to April 2026, which contracted by 3.7 per cent (yoy).

This improvement is primarily driven by increased sales in the spare parts and accessories group, as well as cultural and recreational goods.

On a monthly basis, retail sales in May 2026 are projected to grow by 0.02 per cent (month-to-month/mtm) after experiencing a contraction of 9.3 per cent (mtm) in April 2026.

This increase is supported by improved sales in the spare parts and accessories group and other goods, particularly the apparel sub-group.

This development is also in line with national conditions, where the national Real Sales Index for May 2026 is projected to remain stable at the 225 level, although slightly lower than the April 2026 realisation of 226.9.

Previously, the normalisation of public demand following Eid al-Fitr 1447 Hijri caused Surabaya’s Real Sales Index in April 2026 to drop to 473.3 from 529.1 in March 2026.

Annually, retail sales in April 2026 recorded a contraction of 3.7 per cent (yoy) after growing by 14.5 percent (yoy) in March 2026.

Based on commodity groups, positive growth in the spare parts and accessories group and cultural and recreational goods was not yet able to fully offset the contraction in several other commodity groups.

On a monthly basis, retail sales in April 2026 also experienced a contraction of 10.6 per cent (mtm) after growing by 9.3 per cent (mtm) in March 2026, occurring across almost all commodity groups as a result of the normalisation of public demand following the Eid al-Fitr religious holiday.