Indonesian consumer confidence index rises to 14-month high

Jakarta (Antara News) - Indonesia's consumer confidence index rose to 98.1 points in October, its highest mark in 14 months, up from 96.1 points in September, a central bank survey showed Wednesday.

The confidence index, which indicates respondents' optimism about the economy, last stood above 100 points in June last year.

The two components of the index -- the present condition index and consumer expectation index -- both rose in October.

The present situation index, which indicates the level of consumer confidence in current economic conditions, rose to 82.3 points in October from 81.8 points in September.

Meanwhile, the consumer expectation index, which shows the level of confidence in economic prospects for the next six months, rose to 113.9 points in October from 110.5 points previously.

The increase in the expectation index was mainly due to rising optimism over income prospects for the next six months on the back of improved economic conditions, the survey was quoted by AFP as saying.

Indonesia's central bank, citing improving economic indicators, cut its key interest rate by 50 basis points to 10.25 percent on Tuesday. (*)
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