Bareksa.com - Indonesian consumers were more optimistic in July about the country's economy than during the previous month due to greater business activity ahead of the Eid al-Fitr festival, a Bank Indonesia survey showed on Wednesday.

The survey found the consumer confidence index at 119.8 compared with the June reading of 116.3. A reading above 100 indicates that consumers in general are optimistic.

Consumers predicted prices pressure would fall in the next three to six months, with prices of food and clothing declining the most.

The survey also said consumers expect better economic conditions in the next six months on job availability and expectations of a wage rise.

On July 9, Indonesians voted for their next president. Late in the month, the Election Commission declared the winner to be Jakarta Governor Joko Widodo, who many Indonesians see as a reformer.

Consumer confidence index 119.8 116.3 116.9
Present situation index 113.9 111.1 112.2
Expectation index 125.7 121.4 121.5

(Source : Reuters)