Households cut savings
Bank Indonesia's March consumer survey found the share of income going to consumption rose to 72.2% while the share saved declined, and separate data show retail sales growth eased to 2.4% in March. Those numbers capture stronger near‑term spending even as retail momentum appears to moderate. (stabilitas.id) (rttnews.com)
Indonesian households put more of their income into spending in March, while the share set aside as savings slipped, according to Bank Indonesia’s latest consumer survey. (bi.go.id) (jawawa.id) Bank Indonesia said the average propensity to consume ratio rose to 72.2 percent in March 2026 from 71.6 percent in February. The saving-to-income ratio edged down to 17.6 percent from 17.7 percent, while the debt-payment share fell to 10.2 percent from 10.7 percent. (bi.go.id) (jawawa.id) The same March survey showed consumer confidence stayed in optimistic territory, with the Consumer Confidence Index at 122.9. Bank Indonesia said the Current Economic Condition Index stood at 115.4 and the Consumer Expectation Index at 130.4. (bi.go.id) A separate Bank Indonesia retail sales survey pointed to slower annual sales growth in March, even with a strong month-to-month jump tied to Ramadan and Eid demand. Retailers projected the Real Sales Index would rise 2.4 percent from a year earlier in March, down from 2.0 percent growth in February on a revised basis? No—the March release said sales were expected to grow 9.3 percent from February after February had risen 4.1 percent from January, while the year-on-year pace for March was 2.4 percent. (bi.go.id) That mix shows two different measures moving on different clocks. The consumer survey tracks how households say they divide income between spending, saving, and debt service, while the retail sales survey tracks what retailers report or expect to sell. (bi.go.id 1) (bi.go.id 2) (bi.go.id 3) Bank Indonesia said March retail demand was supported by spare parts and accessories, food, beverages and tobacco, and cultural and recreational goods. The central bank also said April 2026 sales were expected to keep growing 5.5 percent from a year earlier, helped by the Eid al-Fitr period and the National Religious Holiday allowance. (bi.go.id) The March consumer release was published on April 10, 2026, and the retail sales release followed on April 11, 2026. Taken together, the two reports show households still willing to spend, but with less room to add to savings than a month earlier. (bi.go.id 1) (bi.go.id 2)
