Consumer Confidence Index: 127.2
Retail Sales: -4.8% MoM* | 0.4% YoY*
*preliminary

Indonesia’s Consumer Confidence Index (CCI) dipped slightly in January 2024, driven by a decrease in the assessment of current economic conditions, likely due to government budget efficiency policies. However, consumer expectations for the future improved, potentially influenced by declining interest rates. This shift is also reflected in household spending, with a smaller proportion allocated to consumption and a larger share going towards debt payments. Furthermore, retail sales growth is expected to slow significantly in January 2025, following a period of increased spending during the holiday season.

By PHINTRACO SEKURITAS | Research
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