JAKARTA, Nov 6: Indonesia’s consumers grew more optimistic for the first time in three months In October, expecting an improvement in the economy over the next six months, a Bank Indonesia survey showed on Monday.
The consumer confidence index rose to 109.5 in October, compared with 107.1 in the previous reading but lower than 119.5 in the same month last year.
A reading above 100 indicates that consumers in general are optimistic.
Consumers remained concerned about the current economic situation, particularly due to a slowing in durable goods purchases and wages.
But the survey of 4,600 households in 18 major cities in the archipelago showed that consumers were more confident about wages, the availability of jobs and business conditions in the next six months.
Price pressures are expected to rise in April 2014 due to election spending, the survey also showed.
Data later on Wednesday is expected to show Indonesia’s annual economic growth likely slowed to its weakest in four years in the third quarter as domestic spending and exports weakened, leaving the rupiah vulnerable to further declines, according to a Reuters poll showed.
(agencies)
Follow our WhatsApp channel