“Consumers are also less optimistic about the future, particularly due to concerns about high foodstuff prices, while around 39.0 percent of consumers are still worried about job scarcity,” DRI said in a statement on Wednesday.

“The fall in this index reflects weaker consumer optimism toward the economy and the job market outlook over the next six months.”

DRI also recorded a decline in buying intentions for durable goods in April as 41.59 percent of consumers expressed plans to purchase a durable good over the next six months, or down from 42.75 percent in the previous month.

Nevertheless, on a yearly comparison, buying intentions for durable goods are still higher, compared to 39.79 percent in April, 2017, DRI says.

Consumers expect inflationary pressures to increase slightly over the next six months, the survey finds.

“Overall, the index measuring consumer sentiment toward general prices rose 1.3 percent from 185.6 to 187.9 in April. This index is higher than its level one year ago, when it reached 186.5 in April 2017,” it says.

Meanwhile, after 4 percent increase in the previous month, consumer confidence in the government index (CCGI) deceased 1.3 percent to 106.3 in April.

However, CCGI are still above the neutral level of 100, indicating that consumers are generally convinced in the government’s ability to carry out its duties.  (bbn)

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