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Consumer confidence bouncing back after last year's slump
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Tanah Abang market, Southeast Asia’s biggest textile market, is thronged with customers as Indonesian consumer confidence begins to rise for the first time since last year. (Kompas.com/Roderick Adrian Mozes)
I
ndonesian consumer confidence has started rising after a steady decline last year, global marketing research firm Nielsen’s Consumer Confidence Survey shows.
Nielsen Indonesia managing director Agus Nurudin said the progress was caused by positive market sentiment in January when the government started to reduce fuel prices.
“We believe that the index can go up to 120 again as long as the public and businesspeople are not unsettled by negative events or economic developments,” he told reporters during the survey publication in Jakarta on Wednesday.
The index dropped to 120 in the middle of 2015 from 123 in the first quarter of last year following the government's plan to increase fuel prices.
In the third and fourth quarter of 2015, the index touched 116 and 115 respectively due to economic uncertainty, a weaker rupiah and an increase in lay-offs, the survey says the index now stands at 117. (dmr)
