Consumer Confidence Moves Upward
The consumer confidence index increased slightly to 96.3 points in July from 95.8 in June, largely due to a drop in the number of respondents pessimistic about job creation prospects in the next six months, a Bank Indonesia (BI) survey showed.
An index level below 100 indicates pessimism about the economic outlook among those polled while above 100 suggests optimism. The index last exceeded 100 in November 2006.
BI said the two components of the index -- present condition and consumer expectations -- both improved in July, Thomson Financial reported.
The present condition index, which indicates the level of consumer confidence in current economic conditions, gained to 85.5 points from 84.9 in June.
Meanwhile, the consumer expectation index, that shows confidence in economic prospects for the next six months, rose to 107.2 from 106.6.
An index level below 100 indicates pessimism about the economic outlook among those polled while above 100 suggests optimism. The index last exceeded 100 in November 2006.
BI said the two components of the index -- present condition and consumer expectations -- both improved in July, Thomson Financial reported.
The present condition index, which indicates the level of consumer confidence in current economic conditions, gained to 85.5 points from 84.9 in June.
Meanwhile, the consumer expectation index, that shows confidence in economic prospects for the next six months, rose to 107.2 from 106.6.