Indonesian consumers more optimistic in May: central bank survey

[JAKARTA] Indonesian consumers were more optimistic in May than they were the previous month, a Bank Indonesia survey showed on Wednesday.

It said the central bank's consumer confidence index was 112.8 in May on a yearly basis, compared with 107.4 in April. A reading above 100 indicates that consumers are optimistic.

While the May index rose from April, it was below March's reading of 116.9.

Two other indexes reported by the central bank - a "present situation" gauge and an "expectation" one - rose in May from April, strengthening the overcall confidence index The central bank said higher May index indicates consumers expect economic conditions in the next six months will be better, with infrastructure projects increasing job availability and income.

The survey showed that the price pressure would ease in August, following the Islamic fasting month of Ramadan, which begins in mid-June, and the Eid-al Fitr celebrations after it.

REUTERS