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Jakarta Post

Consumer confidence index falls 2.3 percent in June

  • News Desk

    The Jakarta Post

Jakarta   /   Fri, June 28, 2019   /   03:13 pm
Consumer confidence index falls 2.3 percent in June People browse at The Goods Dept. at Pacific Place in South Jakarta on March 1. (JP/Ni Nyoman Wira)

The consumer confidence index (CCI) fell for the second straight month in June to 100.7 from 103.1 the previous month as consumers gave more negative assessments of current economic and employment conditions.

Customers are less upbeat about the outlook for local business conditions and their family incomes over the next six months, according to a survey conducted by the Danareksa Research Institute (DRI) in June, whose report was released on Friday.

The present situations index (PSI) declined more sharply by 4.5 percent to 84.7, while the expectations index (EI) slipped 1.1 percent to 112.6, according to the report.

Some 65.8 percent of respondents in the survey were concerned about higher food prices (unchanged from the earlier survey), while 33.9 percent of them were concerned about job scarcity, up from 32.9 percent in the previous survey.

The survey also shows that the buying intentions index (BII) fell on a monthly basis by 1.3 percent month-on-month (mom) to 187.7 as consumers may postpone the plan to purchase several types of durable goods following the Idul Fitri festivities and ahead of the new school year.

“Nonetheless, the BII still posted higher annual growth of 11.8 percent yoy, indicating stable consumer purchasing intentions for durable goods over the next six months, the report says.

Consumer confidence in the government index (CCGI) rose 0.5 percent mom to 111.5, following a 1.4 percent increase in the previous month. All of the CCGI components currently stand above the neutral level of 100, indicating that consumers are still generally convinced about the government’s ability to carry out its duties. (bbn)