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Consumer Confidence
Consumer Confidence Januari 2019
January 11, 2019 10:09

Consumer Confidence strengthened further in December 2018. In this month, the Consumer Confidence Index (CCI) rose by 1.7 percent from 99.0 to 100.7, after increasing 0.8 percent in the previous survey. Our latest survey reveals that consumers gave more positive assessments on current economic conditions. At the same time, consumers are also more upbeat on the economic outlook. In addition, they are also more positive on their family incomes. Our survey also shows that consumer concerns on job scarcity eased in the December survey. On a less positive note, however, more consumers are worried by rising foodstuff prices at the present time.

The two main components which make up the CCI both increased in December. The component measuring consumer sentiment toward current conditions, the Present Situations Index (PSI), added 1.7 percent to 85.6, as sentiment toward the current state of the national economy and the job market improved. The other main component of the CCI - the one measuring consumer sentiment toward the future (the Expectations Index or EI) – also increased. This index climbed 0.8 percent to 112.1. The increase in this index reflects stronger consumer optimism toward the national and local economy outlook over the next six months.

With consumers being more upbeat on the national economic outlook, buying intentions for durable goods increased futher in December. In our survey, 45.65 percent of consumers expressed plans to purchase a durable good over the next six months, or up from 45.42 percent in the previous month. However, on a yearly comparison, buying intentions for durable goods were actually lower since 46.35 percent of consumers expressed plans to purchase a durable good back in December 2017.

Consumer confidence in the government’s ability to carry out its duties weakened further in the December survey. After decreasing 0.7% in the previous survey, the Consumer Confidence in the Government Index (CCGI) slipped 4.5% to 105.3 in December. All components of the CCGI declined in our latest survey. Nonetheless, three CCGI components are still above the neutral level of 100, thereby indicating that consumers are generally still convinced in the government’s ability to carry out its duties.