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Trade Outlook
Business Sentiment Survey February 2018
February 06, 2018 07:57


Business sentiment weakened during the reporting period of October and November 2017 as economic concerns resurfaced. As a result, the main measure of business sentiment, as measured by the Business Sentiment Index (BSI), dipped 5.5 percent to 129.5.

In particular, CEOs noted much weaker performance of the economy: this index sank a precipitous 13.9 percent to 100.0 from 116.1 in the previous survey.

Nonetheless, CEOs remain broadly upbeat on Indonesia’s prospects going forward – although the Expectations Index did decline by 6.2 percent it remains at a relatively high level of 137.9.

Encouragingly, CEOs are much more upbeat on the outlook for the rupiah (this index surged 17.5 percent to 117.8). Positive economic data including faster growth and burgeoning forex reserves - which rose to US$130.2 billion at the end of December, or up from US$125.97 billion a month earlier - have helped create positive sentiment toward the local currency unit.

On the political front, CEOs were once again more satisfied with the performance of the government. In our survey, the overall measure of Business Confidence in the Government (BCGI) rose another 4.0 percent to 152.9 after climbing 5.1 percent in the previous survey.