Indonesia’s Feb demand down 4.5% YoY

Indonesia’s Feb demand down 4.5% YoY
Published: 23 March 2009

Indonesia’s domestic cement consumption fell 4.5 per cent in February to 2.86Mt from a year ago, data from the country’s cement industry association showed on Monday.

However, the country’s biggest cement producer, PT Semen Gresik Tbk ,
recorded a 5.2 per cent rise in total cement sales to 1.32Mt in February, the data showed.

The firm, which has market capitalisation of about US$1.8bn, previously said it expected Indonesia’s cement demand would fall this year due to the global economic crisis and a slowdown in Indonesia’s economic growth.

The data from the Indonesian Cement Association also showed cement consumption in Southeast Asia’s top economy dropped by 7.8 per cent to 6.03Mt in the January-February period.

Indonesian authorities have earmarked spending on infrastructure as part of its IDR73.3trn (US$6.24bn) fiscal stimulus package intended to create jobs and lift economic growth this year.