ID :
12503
Mon, 07/14/2008 - 15:46
Auther :
Shortlink :
https://www.oananews.org//node/12503
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JUNE 2008 CONSUMER CONFIDENCE INDEX HITS THE LOWEST SINCE OCT 2005
Jakarta, July 14 (ANTARA) - Indonesia's consumer confidence index (IKK) in June 2008 hit the two-and-a-half-year lowest since October 2005 when the government doubled fuel oil prices, according to a consumer survey conducted by Bank Indonesia (BI).
The survey conducted after May 24's fuel oil price hikes showed June 2008's IKK fell to 79.1, or 3.3 points lower than a month earlier.
In its survey, the central bank noted that the increasingly pessimistic conditions were fueled by consumer's declining confidence in the current economic condition index (IKE) and consumer's expectation index (IEK) which respectively fell by 5.9 points and 0.8 points.
The decline in IKK happened to almost all components of IKK, including timely purchase of durables which declined by as much as 8.0 points, available job opportunities 5.9 points, and expected job opportunities 1.8 points.
The conditions were exacerbated by declining optimism about the current income and expected income which dropped by 3.9 points and 2.9 points respectively.
On a yearly basis, IKK fell by 16.7 points from a year earlier as reflected by consumer's pessimism about the current economic conditions with the index falling by 12 points.
This is followed by declining pessimism about consumer's expectation which dropped by 21.4 points.
Meanwhile, June 2008's IKE fell by 5.9 points from the month before with the index standing at 72.9 or still below the pessimistic level.
The drop was caused by consumer's pessimism about timely purchase of durables and available job opportunities which fell by as much as 8.0 points and 5.9 points respectively.
The declining optimism about the current income which reached 3.9 points was also responsible for the decline in IKE.
This year's IKE fell by 12.0 points from a year earlier due in part to consumer's rising pessimism about timely purchase of durables and available job opportunities indexes which reached 15.6 points and 12.2 points respectively.
The drop was also followed by respondents' declining optimism about the current income which stood at 8.3 points.
Consumer's expectation index (IEK) in June 2008 stood at the pessimistic level of 85.2 or 0.8 points lower than the month before.
The pessimistic IEK was caused by declining expectation of job opportunities (1.8 points) and respondents' declining optimism about income expectation (2.9 points).
The consumer survey is a monthly survey conducted on around 4,600 households in 18 cities as respondents using a stratified random sampling method.
The cities were Jakarta, Bandung, Semarang, Surabaya, Medan,Makassar, Bandar Lampung, Palembang, Banjarmasin, Padang, Pontianak, Samarinda, Manado, Denpasar, Mataram, Pangkal Pinang, Ambon and Banten.
The survey conducted after May 24's fuel oil price hikes showed June 2008's IKK fell to 79.1, or 3.3 points lower than a month earlier.
In its survey, the central bank noted that the increasingly pessimistic conditions were fueled by consumer's declining confidence in the current economic condition index (IKE) and consumer's expectation index (IEK) which respectively fell by 5.9 points and 0.8 points.
The decline in IKK happened to almost all components of IKK, including timely purchase of durables which declined by as much as 8.0 points, available job opportunities 5.9 points, and expected job opportunities 1.8 points.
The conditions were exacerbated by declining optimism about the current income and expected income which dropped by 3.9 points and 2.9 points respectively.
On a yearly basis, IKK fell by 16.7 points from a year earlier as reflected by consumer's pessimism about the current economic conditions with the index falling by 12 points.
This is followed by declining pessimism about consumer's expectation which dropped by 21.4 points.
Meanwhile, June 2008's IKE fell by 5.9 points from the month before with the index standing at 72.9 or still below the pessimistic level.
The drop was caused by consumer's pessimism about timely purchase of durables and available job opportunities which fell by as much as 8.0 points and 5.9 points respectively.
The declining optimism about the current income which reached 3.9 points was also responsible for the decline in IKE.
This year's IKE fell by 12.0 points from a year earlier due in part to consumer's rising pessimism about timely purchase of durables and available job opportunities indexes which reached 15.6 points and 12.2 points respectively.
The drop was also followed by respondents' declining optimism about the current income which stood at 8.3 points.
Consumer's expectation index (IEK) in June 2008 stood at the pessimistic level of 85.2 or 0.8 points lower than the month before.
The pessimistic IEK was caused by declining expectation of job opportunities (1.8 points) and respondents' declining optimism about income expectation (2.9 points).
The consumer survey is a monthly survey conducted on around 4,600 households in 18 cities as respondents using a stratified random sampling method.
The cities were Jakarta, Bandung, Semarang, Surabaya, Medan,Makassar, Bandar Lampung, Palembang, Banjarmasin, Padang, Pontianak, Samarinda, Manado, Denpasar, Mataram, Pangkal Pinang, Ambon and Banten.
