Indonesia May consumer confidence rises to 98.5 points

Jakarta (ANTARA News) - The consumer confidence index rose to 98.5 points in May from 95.7 in April as the number of respondents optimistic about income and job creation increased, a Bank Indonesia (BI) survey showed.

The index measures respondents views on the outlook for the economy, with a level below 100 points indicating a pessimistic view.

The index was last above 100 points -- a level indicating optimism -- in November 2006.

The components of the index, the present condition index and consumer expectation index, both rose in May, BI was quoted by XFN Asia as saying.

The present condition index, which indicates the level of consumer confidence in current economic conditions, gained 2.8 points to 87.7 points with respondents more upbeat about current income and job creation.

Meanwhile, the consumer expectation index, which shows the level of confidence in economic prospects for the next six months, added 3.0 points to 109.4 points also boosted by hopes of higher income.