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[JAKARTA] Indonesian consumers were less optimistic in March due to expectations of a weakening economic outlook, a Bank Indonesia survey showed on Thursday.
The consumer confidence index was 116.9 in March on a yearly basis, slightly lower from 120.2 in February. A reading above 100 indicates that consumers are optimistic.
The survey showed that consumers held back their purchase of durable goods amid a decrease in employment availability.
Consumers expected that the economic outlook in the next six months will be weaker, especially on business activity, job availability and on income.
The survey showed that consumers expected business activities to worsen in the next six months due to price pressures and limitations on improvement in infrastructure.