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The Roy Morgan Consumer Confidence Rating for the third
quarter of 2007 remained steady, increasing a mere 0.1 points to 112.8
from the previous quarter.
This level is 3.5 points higher than the 109.3 recorded in the same
period of 2006, but is still a distant 6.4 points lower than the
confidence level of the third quarter of 2005, prior to the fuel price
hikes of 2005.
Although there are still more people who say they are currently worse
off than a year ago compared to those who say they are better off, more
than half of all Indonesians feel their circumstances have not changed,
according to a quarterly survey conducted by Roy Morgan Research
Indonesia.
The survey indicates that 31 percent of Indonesians (down 3 percent),
said they are worse off then a year ago, and 16 percent (down 4
percent) said they are better off than a year ago. Those who said their
circumstances had remained the same jumped from 46 percent to 53
percent in the third quarter.
In terms of buying major household items, the percentages are also the
same as last quarter, according to the survey, which was based on
interviews with about 6,500 respondents aged 14 and over.
The survey shows that the majority at 67 percent still consider now is
a bad time to buy, with only 29 percent of Indonesians saying it is
good time to buy.
Regarding their personal circumstances in the future, more people are
optimistic: 45 percent (up 1 percent) expect to be better off
financially this time next year, while only 10 percent (down 1 percent)
expect to be worse off.
Indonesians continue to be positive about the country's long-term
future, with 81 percent expecting good economic conditions over the
next five years (up 1 percent), and only 18 percent (down 2 percent)
expecting bad economic conditions.
Short-term expectations of good economic conditions for the country are
also high, with 60 percent expecting good times economically, although
this number is down by 1 percent. On the other hand, 40 percent (up 2
percent) expect bad economic conditions over the coming year.
Ira Soekirman, the director of Roy Morgan Research Indonesia, said that
although the Indonesian economy had grown faster in the third quarter
of 2007, this had not affected ordinary Indonesians, as reflected in
the Consumer Confidence Index for the quarter, which remained at the
same level as in the second quarter.
"Wealth, if it is concentrated in the hands of the affluent minority,
does little to affect the lives of the majority," Ira said.
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