Economic Activities in Surabaya Becoming Stable: BI

Surabaya, E Java (Antara) - The office of Bank Indonesia (BI) in East Java province stated that economic activities in Surabaya have become stable, as sales in spare parts and cultural and recreational items increased in March. The sales of cultural and recreational items are expected to increase further, deputy chief of BI Office in East Java Syarifuddin Bassara said here on Wednesday. Furthermore, the sales of stationary items (a sub-group of cultural and recreational items) also increased ahead of exams in April 2015, he added. \"However, the public has begun showing a pessimistic attitude towards consumption activities in April 2015,\" he remarked. The pessimism reflects on the city\'s low consumer confidence index. However, the young generation, including those pursuing postgraduate programs, remain optimistic about consumption activities in April 2015, he pointed out. Based on the result of a retail sales survey, household consumption has decreased due to a fall in demand, particularly for household utensils, foods, beverages, and tobacco, he explained. \"The low demand was apparently caused by a (government) policy to adjust fuel oil prices,\" he observed. On the other hand, the fuel price hike has had no significant impact on fuel consumption, this is evident in fuel sales that still remain on a normal limit. (*)