Weakening Business Growth Expectations, Consumer Confidence Falls
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Based on a Bank Indonesia (BI) survey, the Consumer Confidence Index (CCI) fell by 1.8 points or 1.39% to 126.4 in June 2019. Previously, the CCI stood at 128.2 in May 2019. Furthermore, the Consumer Expectation Index (CEI) also decreased from 142.9 the previous month to 138.1 in June 2019.
This decline occurred due to a decrease in consumer expectations regarding business developments. This decrease manifested in three areas: firstly, expectations regarding business conditions; secondly, expectations regarding income in the next six months; and lastly, expectations regarding employment opportunities.
Although the CCI decreased, BI explained that consumer optimism remains intact. The sustained CCI is reflected in the strengthening of consumer confidence in purchasing durable goods, the current availability of jobs, and current income compared to the situation six months ago. This resulted in an increase in the Current Economic Index (CEI) in June 2019.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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