Consumer Confidence Index Drops Due to Yogya Earthquake
Thursday, 20 July, 2006 | 20:16 WIBTempo Interactive
, Jakarta: The consumer confidence index plunged again in June, after the earthquakes in Yogyakarta and Central Java.
Based on a survey by the Danareksa Research Institute, the consumer confidence index dropped 0.9 percent to 84.7, with the fall of the Central Java index by 8.7 percent.
However, according to Purbaya Yudhi Sadewa, Chief Economist of the Danareksa Research Institute, once the situation following the natural disaster beings to recover, the consumer confidence index will start to improve.
He believes that by viewing the prospect, the declining trend in Central Java will probably not last for long.
“There are indications that the negative effect on the local economy will only last for a few days and the economic activities will return to normal,” said Purbaya yesterday (19/7) in a press release.