"Consumer optimism is stifled due to a decline in consumers’ perceptions of the current economic conditions and expectations of future economic conditions," BI Communication Department noted in its latest info here on Monday.
Consumers’ perceptions on the current economic conditions are mainly influenced by the trend of more limited jobs.
Consumer expectations of future economic conditions are subdued by their perceptions of the condition of business activities in the subsequent six months that are not as strong as those held in the previous month.
The survey results indicate that consumption expenditure for the next three months until June 2020 is forecast to be maintained.
This is reflected in the forecast index of household consumption in the next three months amounting to 165.5, relatively stable as compared to the achievements in the previous month.
The sustained consumption spending was mainly driven by demand that is forecast to increase during the fasting month of Ramadan and the Idul Fitri celebrations.
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