Indonesia Consumer Confidence Weakens In October

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Indonesia’s consumer confidence weakened in October, though households’ expectations for the next six months remained quite optimistic on hopes of more income and job availability, survey data from Bank Indonesia showed on Monday.

The consumer confidence index fell to 79.0 from 83.4 in September, the bank said.

The consumer expectation index remained above the 100-point threshold at 106.6. This signaled that consumer expectations of economic conditions in the next six months was quite optimistic, underpinned by upbeat sentiment regarding the income and employment outlook.

However, consumers were less upbeat regarding the current economic situation due to lower income and less job availability amid the coronavirus, or Covid-19, pandemic.

The material has been provided by InstaForex Company – www.instaforex.com

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