Indonesia Consumer Confidence At 5-month Low

(RTTNews) - Indonesia's consumer confidence weakened in February to a five-month low, but households remained optimistic, survey data from the Bank Indonesia showed on Wednesday.

The consumer confidence index fell to 113.1 in February from 119.6 in January. In the same month last year, the reading was 85.8.

The latest reading was the lowest since September.

The expectations index dropped to 130.8 and the current conditions index fell to 95.5. Both readings were also the lowest since September.

"Consumers were slightly less upbeat in February 2022 due to more subdued expectations of future economic conditions in terms of income, job availability and business activity, though remaining optimistic," the central bank said.

"At the same time, consumer perception of current economic conditions was hampered by a surge of Covid-19 cases and tighter community activity restrictions (PPKM) in various regions of the Indonesian archipelago."