VIVAnews - Indonesian consumers are more pessimistic over the national economic situation. There is a falling expectation toward the economic condition in the next six months.
The survey that Bank Indonesia conducted in December 2008 with 4,600 household respondents in 18 cities showed that consumer confidence index was at a despairing level of 90.6.
This shows that consumer confidence index in December 2008 was more pessimistic compared to the previous month with index decrease of 5.7 points. The key factor of the growing pessimism of consumer confidence index was the declining elements forming the index: Coincident Economic Index and Consumer Expectancy Index decreased by 5.6 points and 5.8 points respectively compared to December.
A survey quoted from Bank Indonesia's website on Monday, Jan 12, showed that income expectancy index in the next six months drops by 3.8 points compared to the previous survey which displayed optimism, as reflected in this month's index of 128.1.
Price expectancy index in the next six months showed similar decrease with 1.2 points compared to December 2008. The index decrease reflected that the number of respondents predicting price increase in the next six months is smaller. The decrease was mostly due to a plunge in price expectancy index for homes, electricity, gas and fuel reaching 6.1 points and index decrease on transportation, communication and financial services reaching 4.2 points.
Savings interest rate expectancy index in the next six months also decreased by 7.3 points to 118.7 compared to the previous months. In line with the said decrease, the survey shows that total savings expectancy index in the next six months decreases by 4.9 points compared to last month with 110.3.
The survey also shows that respondents' expectancy towards the economic condition in the next six months slightly decrease by 2.4 points compared to the the previous survey with 104.1, which still showed some optimism.
Translated by: Bonardo Maulana Wahono
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