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[JAKARTA] Indonesia's consumers were less optimistic in September due to a decline in confidence and weakening business activity in Southeast Asia's largest economy, a Bank Indonesia survey showed on Thursday.
The consumer confidence index was 119.8, slightly lower than the previous reading of 120.2 in August. A reading above 100 indicates that consumers are optimistic.
Expectations were lower for economic conditions over the next six months due to slowing business activity and lower wages. The survey also said business activity slowed due to expectations of higher inflation from an expected fuel price hike later this year.
Consumers expected price pressure to be high in the next three months due to seasonal pressures and a rise in electricity and LPG prices. - Reuters