BANDUNG-The results of a survey conducted by Bank Indonesia indicate that economic growth in West Java until the end of fourth quarter 2017 increased compared to the previous quarter.
Head of West Java Provincial Representative Office, Wiwiek Sisto Widayat, said that based on consumer surveys, it indicates that overall consumer optimism has improved at the end of Q4 / 2017 reflected in the Consumer Confidence Index (IKK) of West Java at 134, up from 127.
"This condition is driven by the increase of Current Economic Condition Index (IKE) from 113 to 117, and Consumer Expectation Index from 142 to 151," said Wiwiek, told reporters at BI Jabar Building on Tuesday (09/01).
According to Wiwiek, the results of the retail sales survey in the mid-quarter of 2017 indicate an annual growth of retail sales of -4.5% (yoy) and the real sales index (IPR) decreased from the previous month from 289.6 to 285.8 due to the decline demand for the community, resulting in a decrease in product sales volume.
"The performance of retail sales is predicted to increase at the end of fourth quarter 2017 triggered by the high demand of the community in welcoming Christmas and New Year," he said.
In the fourth quarter of 2017, business activities in West Java indicated that business activities in West Java increased quarterly from the previous period as reflected by the weighted net balance (STB) of 15.73%, higher than the previous quarter which was only 13 , 02%.
"By sector, the manufacturing and trading industry, hotels and restaurants (PHP) sector have become the main drivers of the increase," he said. (Parno)