Consumer confidence climbs in Indonesia

Indonesian consumers grew more optimistic about their economic prospects in January, thanks to the recent fuel price cuts, according to surveys from the central bank and a state-controlled research institute.

Bank Indonesia’s Consumer Confidence Index, which is based on a sample of 4,600 households in 18 major cities in Indonesia, increased by 3.7 points to 120.2 point in January.

A level of more than 100 points generally means consumers are optimistic about the country’s economy.