Survey of Danareksa
Research Institute in November 2013 unveiled that consumers’ confidence
re-strengthened in November for the fourth time. After increasing by 1.8%
according to survey in October, Consumers Confidence index inched up again by
1.2% to become 92.3 in November, the highest level in 7 months.
The improving consumers’ confidence in November was
mostly due to negative public perception of Indonesia’s economic prospect.
Besides, people’s anxiety of increased food was also reduced. Latest survey
unveiled that around 71.8% of consumers were afraid of increasing food price
had dropped from the previous 76.5% in October.
Meanwhile the portion of consumers who were worried about
high oil fiel price also dropped to 18.7% in November against 26.9% the month
before. Apparently the people were getting accustomed to the formed new prices
after increase of oil price last June.
According to the latest survey outcome, consumers felt
sure that inflation pressures would cool down in the next six months. The index
which measured consumers’ sentiment on inflation dropped by 0.1% to become
190.7 in November. However, the index was still higher than the index of the
same month last year. Broadly speaking inflation expectation for the next 6
months was among others due to price increase of goods and services toward year
end due to low season and increasing need for food and clothes toward Christmas
and New Year.
The main two components which formed IKK index increased
in November. The first component, i.e. the component which showed the present
condition [ISS[ rose by 2.4% to become 74.2 as consumers gave better rating to
economic condition and employment opportunity. Meanwhile other IKK component
which showed condition of the future [Expectation Index] was showing increase
of 0.6% to become 105.9 in November, the highest level in the last 10 years.
The IE increase indicated that people were getting more optimistic about
economic prospect in the next six months.
With increased people’s optimism of economic prospect as
a whole in the next 6 months, consumers’ plan to buy durable goods increased in
November. Latest survey unveiled that around 31.6% consumers being surveyed
planned to buy durable goods in the next 6 months, increasing by 30.4% in
October. However, the level in November 2013 was still low compared to the
level last year.
Meanwhile,
consumers trust in the Government’s capability to manage all the great task
also increased in November. After dropping 2 times consecutively IKK index on
the Government [IKKP] rose by 1.2% to become 78.6% in November. In the last
survey, 3 components which formed IKKP increased while 2 other components
dropped. The component which showed highest increase was the one which showed
Government’s capability to step up economic growth [related index rose by 4.6%
to become 82.6% in November.]
Business News - December 6, 2013
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