JAKARTA, Dec. 5 (Xinhua) -- The consumers in Indonesia are strongly sanguine on the country's economy based on November's rising consumer confidence index, a survey of the Indonesian central bank (Bank Indonesia) showed here on Thursday.
The consumer confidence index nudged higher 124.2 in November than that in the presiding month when the figure was recorded at 118.4.
Reading above 100 level indicates consumers are optimistic over the country's economy, while the reading below the figure suggests pessimism.
The consumers' optimism on the current economic situation and optimism on expectation of the economy in months to come were improved during the month.
The optimism on the current economic situation was factored by better perception over job availability, earnings and the purchase of durable goods.
On the upcoming economic situation, the consumers' optimism was expected to strengthen business activities, job availability and earnings.
The price pressure in the next three months was expected to weaken as the index of price expectation for February drifted down from that in the previous month, while the price pressure might rise in the next six months due to increasing demands of goods and services ahead of the Islamic fasting month and the Islamic post-fasting festivities in the country with the biggest number of Muslims in the world.
Consumption accounts for over a half of the gross domestic growth in the Southeast Asia's biggest economy.
Still, the government has said that the target of 5.3 percent GDP growth this year is likely not to be achieved as the global economic uncertainty which has eroded the country's exports and importation of capital goods.
