Consumer confidence retreats 4.7% in August
The Jakarta Post
A Danareksa Research Institute (DRI) survey shows that the consumer confidence index (CCI) in August has retreated from 101.6 to 97.5 following a 4.7 percent increase in the previous survey, with consumers responding more negatively on the current economic conditions.
The two main factors that caused the CCI to decline were the present situation index (PSI) – consumer sentiment toward current conditions – and the expectations index (EI) – consumer sentiment toward the future.
The CCI retreated 5.5 percent to 81.0, reflecting deteriorating sentiment toward the current economy and the job market, while the EI decreased 3.3 percent to 109.9, reflecting less optimistic consumer outlook on the economy and the job market in the next six months.
“With consumers less upbeat on the national economic outlook, purchase intention for durable goods declined in August,” the DRI survey report said. Consumer confidence in the government had also weakened in its August survey, after increasing 2.9 percent in the July survey.
In its latest survey, the DRI found 41.13 percent of consumers expressed a plan to purchase durable goods in the next six months, down from 41.36 percent the previous month.
Meanwhile, the consumer confidence in the government index (CCGI) declined 3.3 percent to 105.1 in August, on the back of a decline in all CCGI components.
Four CCGI components still rated above the neutral level of 100, however, indicating that consumers had general confidence in the government, it said. (bbn)
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