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Jakarta Post

Consumers perceive economy as bleak

  • The Jakarta Post

Jakarta   /   Wed, August 14 2019   /  12:09 am

Confidence among Indonesian consumers is deteriorating, according to recent surveys, as concerns over a lack of jobs mount and secondary spending drops against the backdrop of sluggish domestic economic growth.Bank Indonesia’s (BI) Consumer Confidence Index in July dropped for the third consecutive month, with its consumer perception of “availability of jobs” falling to “pessimistic” territory. Nielsen Indonesia also found that consumer concern about the economy went up sharply to 37 percent in the second quarter from 31 percent in the previous quarter.The central bank’s Consumer Confidence Index dropped to 124.8 in July from 126.4 in June. Although the confidence index stayed in the “optimistic” zone, one of the key components for the Economic Condition Index, “availability of jobs”, fell into “pessimistic” territory at 96.6 in July from 101 in June.“The global...