Indonesian consumer confidence falls to 29-month low in April
Jakarta (ANTARA News) - Indonesian consumer confidence dropped for the fifth straight month in April to a 29-month low as more respondents expressed pessimism about current economic conditions and the economic outlook for Indonesia, according to a central bank survey released Tuesday.
The consumer confidence index dropped further to 86.8 points in April from 89.9 in March. The previous low was 86.6 points, recorded in December 2005.
A figure above 100 indicates optimism while a number below 100 suggests pessimism. The last time the index was above 100 was in November 2007.
Bank Indonesia (BI), the central bank, said both components of the index fell.
The present conditions index, which indicates confidence about current economic conditions compared to six months earlier, dropped to 79.5 points, a fresh low since February last year, from 80.8 points in March.
The consumer expectations index, which gauges confidence in the economic outlook for the next six months, also dropped to 94.1 points, its lowest level in four years. The last time the expectation index stood below 100 points was in March 2004.
BI said fewer consumers were optimistic about their current income and the outlook for the next six months, while more respondents were pessimistic about current and future job opportunities.
The survey also showed that more respondents are expecting consumer prices to rise in the next three to six months, led by food prices.
Consumers are also expecting the interest rate to increase in the next six months, BI told Thomson Financial. (*)
The consumer confidence index dropped further to 86.8 points in April from 89.9 in March. The previous low was 86.6 points, recorded in December 2005.
A figure above 100 indicates optimism while a number below 100 suggests pessimism. The last time the index was above 100 was in November 2007.
Bank Indonesia (BI), the central bank, said both components of the index fell.
The present conditions index, which indicates confidence about current economic conditions compared to six months earlier, dropped to 79.5 points, a fresh low since February last year, from 80.8 points in March.
The consumer expectations index, which gauges confidence in the economic outlook for the next six months, also dropped to 94.1 points, its lowest level in four years. The last time the expectation index stood below 100 points was in March 2004.
BI said fewer consumers were optimistic about their current income and the outlook for the next six months, while more respondents were pessimistic about current and future job opportunities.
The survey also showed that more respondents are expecting consumer prices to rise in the next three to six months, led by food prices.
Consumers are also expecting the interest rate to increase in the next six months, BI told Thomson Financial. (*)