Indonesian consumer confidence drifts up on economy

0 Comment(s)Print E-mail Xinhua, May 6, 2019
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JAKARTA, May 6 (Xinhua) -- Consumers in Indonesia stoked a stronger upbeat response over the country's economy on the backdrop of a higher consumer confident index in April, a survey of the central bank showed here on Monday.

According to the central bank, Bank Indonesia, consumer confidence index edged higher to 128.8 in April from 124.5 in March.

Reading above 100 suggests consumers are optimistic on the country's economy, while the reading sort of the figure indicates pessimism.

The figure also came above the consumer confidence index for the whole of last year of 123.6.

The consumer's upbeat stance was factored by their expectation on the sound economic condition in the future and improving their perception of economic condition at present.

The consumers were optimistic over business activities within the next 6 months, improving of their earnings at present and to purchase durable goods.

The price pressure in the next three month suggested softening as the demand of goods and services ahead of the Islamic festivity was projected to recover.

The higher consumer confidence index in April was in line with the annualized core inflation, excluding administered prices and volatile food prices, in the month which ticked up to 3.05 from 3.03 percent in March, according to data from national statistics bureau.

Consumption represents more than halve of the Indonesia's gross domestic product, which is looked at 5.3 percent this. Enditem

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