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Financial News: Indonesia Consumer Confidence Improves In June

Indonesia Consumer Confidence Improves In June

07/06/2020 - 02:37:00 (RTTNews)

(RTTNews) - Indonesia's households were less pessimistic in June, thanks to stronger expectations on the future economic situation, as the restrictions imposed to prevent the spread of the coronavirus, or Covid-19, were eased, survey results from the Bank Indonesia showed on Monday.

The consumer confidence index rose to 83.8 in June from 77.8 in May. Sentiment improved among all categories of respondents, the bank said.

Bank Indonesia attributed the latest improvement in consumer confidence mainly to stronger expectations for the economic conditions in the next 6 months, which were in line with forecasts for the easing of the COVID-19 pandemic in the country.

Expectations for growth in business activity in the next 6 months increased. However, households' view on the current economic situation remained low and weak.

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