FX.co ★ Indonesia Consumer Confidence Improves For Second Month

Indonesia's consumer sentiment rose for the second month in a row in January to its strongest level since August, as business and employment expectations grew, survey data from the Bank Indonesia showed Wednesday.

The Consumer Confidence Index rose to 123.0 from 119.9 in December.

The improvement in the consumer morale is in sync with the other main economic indicators. Inflation eased to a <a href=https://www.rttnews.com/3340853/indonesia-inflation-slows-to-5-28-lowest-in-5-months.aspx?refresh=1 target=_blank >five-month low of 5.28 percent</a> in January.

The economy logged its <a href=https://www.rttnews.com/3341914/indonesia-logs-fastest-growth-in-9-years.aspx?refresh=1 target=_blank >fastest growth in nine years</a> in the year 2022, reflecting the rebound in exports and household consumption after the relaxation of pandemic related restrictions. The latest purchasing managers' survey revealed an acceleration in the expansion rate of manufacturing.

Among the sub-indexes, the business activity expectations measure and the gauge for job availability outlook climbed at the start of the year. The latter underpinned the strong reading of the current conditions sub-index, the central bank said.