Consumer confidence continues to fall<\/p>\n
The Jakarta Post, Jakarta<\/p>\n
Consumer confidence in the country fell for the third consecutive
\nmonth in December due to perceived higher threats of inflation
\nand fears of rising unemployment, according to the Danareksa
\nResearch Institute.<\/p>\n
In the latest monthly survey carried out by Danareksa, the
\nConsumer Confidence Index declined to 100.5 in December from
\n105.6 in the previous month.<\/p>\n
The Index failed to claw its way back from a continued slide
\nof sentiment throughout the last quarter of last year, after
\nrebounding in the third quarter.<\/p>\n
The Index jumped to 112.3 in August from 94.1 in July,
\nfollowing the relatively smooth succession of the country's
\npresidency from Abdurrahman Wahid to Megawati Soekarnoputri in
\nlate July.<\/p>\n
The Index started declining to 107.7 in October due to a loss
\nof momentum caused by the lack of any fundamental change in the
\neconomy, and continued to fall to 105.6 in November.<\/p>\n
Elsewhere, Danareksa said the Present Situation Index dropped
\nto 82.5 from 89.5 a month before, while the Expectations Index
\nslid to 114.1 from 117.7, as weakened economic conditions in
\nDecember weighed upon confidence that the country's economic
\nrecovery might stand in the offing.<\/p>\n
It said that the Consumer Confidence in the Government Index
\nslipped to 130.9 in December from 132.7 a month earlier,
\nemphasizing the deterioration of optimism over how fast the
\ngovernment could address the issue of slowing economic growth and
\ninflation.<\/p>\n
The agency said that the combination of higher costs of living
\nand weaker job demand had pulled consumer sentiment virtually to
\na threshold of pessimism, as consumers felt the heat in December
\nfrom the government's plans to raise fuel prices, electricity and
\ntelephone rates in early 2002.<\/p>",
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