Tue, 12 Feb 2008
Jakarta (ANTARA News/Thomson Financial) - Indonesian consumer confidence dropped for
the second straight month in January with more consumers downbeat about current economic conditions and few were optimistic about what lies ahead, according to the latest survey by the central bank released Tuesday.

Bank Indonesia's consumer confidence index dropped to 94.5 in January from 99.1 in December. A figure above 100 indicates optimism and a number below 100 suggests pessimism. The last time the index was above 100 was in November.

BI said both components of the index fell.

The present conditions index, which indicates confidence about current economic conditions compared to six months earlier, fell to 86.0 from 90.9.

The consumer expectations index, which gauges confidence in the outlook for the economy in the next six months, slipped to 103.0 from 107.2.

BI said the fall in the consumer expectations index is partly because more respondents were less confident about job opportunities.

The Indonesian government has hinted it may revise down this year's gross domestic product growth forecast to 6.4-6.7 percent from the initial estimate of 6.8 percent with the anticipated slowdown in the global economy.

Government estimates showed Indonesia's GDP grew 6.3 percent in 2007. (*)



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