Indonesian Consumer Confidence Declines in March
Indonesian consumer confidence retreated modestly in March, as respondents mulled the job market and the larger economy.The Indonesia consumer confidence index dropped to 122.9 in March from 125.2 in February, marking a five-month low but still struck well above the 100-mark that separates optimism from pessimism, reported Bank Indonesia on Friday.The March confidence decline reflected weaker economic outlooks and lower expectations for job availability.On March, the current economic conditions sub-index logged 115.4, off modestly from 115.9 in February.The consumer expectations sub-index declined to 130.4 in March from 134.4 in February, added the central bank.Consumers were also less confident in March than in February about spending for large-ticket durable goods.On other metrics, the business activity expectations index decreased to 125.5 in March from 130.9 in February, reported Bank Indonesia.In general, the national government held consumer fuel charges steady, through subsidies, in March.The Indonesian consumer survey is conducted monthly by phone and personal visits to 4,600 households in 18 major cities, according to Bank Indonesia.