Consumers` confidence in economy stronger: survey

10 July, 2018 | Source: Antara News

The consumers` confidence in the country`s economy increased in the second quarter of 2018 as reflected in the higher consumer confidence index (IKK) by the end of June 2018 and stronger expectation of consumers for a number of economic indicators by the end of the year, a survey shows.

A survey by Bank Indonesia released in Jakarta on Monday, said the IKK in June 2018 rose three points to 128.1 points from 125.1 points in May 2018.

The level by the end of June was also higher than 122.4 points recorded a year earlier.

In the same period, consumer spending for durable goods rose from May 2018 notably for electronic goods and household furniture and equipment, as shown in the Index of Durable Goods Purchases that increased 5.9 points from 120.8 points in the previous month, the survey said.

"The perception of consumers of the availability of jobs in June 2018 also improved as shown in the Index of Availability of Jobs, which increased 2.8 points to 97.4 points," the Central Bank reported.

The consumer survey by the Central Bank represented the perceptions of 4,600 households in 18 big cities in Indonesia.

However, the confidence of consumers dropped in business activities in the net 6 months. In June 2018 , the index of expectation for business activities was 135.3 down to 135.7 in May in the same year.

The shrinking optimism was caused by worries of respondents over growing pressure of possible rising prices.

The respondents also were worried about possible increase in prices in the next six months as reflected in the Index of price expectation (IEH) of 173.2 points in the next six months up from 166.8 points in the previous month .

 

Indonesia`s economic growth reached a five-year high of 5.17 percent in 2018, mostly fueled by household consumption, investment, and government spending, according to the Central Statistics Agency (BPS).
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