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An expectation of harder times ahead is making Indonesian consumers wary about their economic prospects even as retailers across the country are reporting fast year-on-year growth in sales.
According to data published by Bank Indonesia (BI) on Tuesday, the Consumer Confidence Index (CCI) slipped by 5 points (bps) to 123.2 points in in July, extending a marginal decrease of 0.7 points recorded in June.
Despite the decrease, consumers are still considered confident, as any reading above 100 indicates optimism, while figures below that threshold mark overall pessimism.
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