“Consumers are also more upbeat about the economic outlook [and] more positive about their family’s income. Our survey also shows that consumer concerns over job scarcity eased in December,” the DRI said in a press statement released on Friday.

However, the survey also shows that more consumers are currently worried about rising food prices.

The component measuring consumer sentiments toward current conditions, known as the present situations index (PSI), increased 1.7 percent to 85.6 as sentiments toward the current economy and the job market improved, it says.

The other main component of the CCI, which measures consumers’ sentiments toward the future and is called the expectations index, also increased 0.8 percent to 112.1.

“The increase in this index reflects stronger consumer optimism toward the national and local economic outlook over the next six months,” the statement says.

Meanwhile, buying intentions for durable goods increased further in December as 45.65 percent of consumers expressed plans to purchase a durable good over the next six months, or up from 45.42 percent in November.

However, on a yearly comparison, buying intentions for durable goods were actually lower than in 2017, when they were recorded at 46.35 percent.

Consumer confidence in the government’s ability to carry out its duties weakened 4.5 percent to 105.3 in December, after decreasing 0.7 percent in November. (bbn)

Popular

The fragile promise of pluralism, religious freedom in Southeast Asia

Coffee, gold push up inflation to 1.95 percent in April

Power begins to return after outage in Indonesia's Bali island