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Consumer confidence sinks to five-month low as economic anxiety grows
Consumer confidence continued its downward trend in March, falling for the third consecutive month and hitting its lowest since October 2024.
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Cautious spending: A woman holds money as people shop at the Tanah Abang textile market on April 3, 2024, in preparation for the Idul Fitri holiday celebration, in Jakarta. (AFP/Adek Berry)
I
ndonesian consumers have continued to grow more anxious as job prospects dim and rising living costs strain household budgets, dragging confidence to its lowest level since October last year.
The Bank Indonesia (BI) monthly survey released on Tuesday revealed that consumer confidence continued its downward trend in March, falling for the third consecutive month.
The consumer confidence index (CCI) dropped by 5.3 points to 121.1, following February's reading of 126.4.
In a press statement published together with the survey, BI spokesperson Ramdan Denny Prakoso said that the decline reflected growing pessimism over both current economic conditions and future expectations.
Read also: March inflation remains below BI target despite end of electricity discount, Idul Fitri
The two main components of the index: The current economic index and the economic outlook index also fell to 110.6 and 131.7 in March, respectively.
The drop was broad-based, with all six sub-components weakening, reflecting deeper unease about both current conditions and future expectations.
