Indonesia Consumer Confidence Remains Strong In November

Indonesia’s consumer confidence remained upbeat in November despite a slight fall since October, supported by the continued strength of households’ expectations and current economic conditions, survey data from the Bank Indonesia showed on Thursday.

The consumer confidence index dropped to 119.1 in November from 120.3 in the previous month. However, a reading above 100 indicates optimism among households.

The easing trend in November was mainly caused by the current income index, which fell to 116.4 from 118.7 due to a rise in fuel prices and a drop in job opportunities.

While the current situation index remained in an optimistic area, it was slightly declining in line with changes in the current income index, job availability, and durable goods purchases.

In the near future, consumer expectations will remain high, supported mainly by wage growth and job availability.

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