Weekly jobless claims rose, pushing the number of unemployed to a 10-month-high and raising hopes that the FFR hike would soon slow down. Amid a high inflation and interest rates era, data shows that US Initial Jobless Claims ended Dec. 3, had as many as 230K claims (+1.8% Wow), with Continuing Claims ending on Nov. 26 rose to 1.7 claims, the highest level since Feb. 2022. On the other hand, economists digest this relatively biased unemployment claims data happened, as it approaches the holiday season, and companies tend to temporarily close or slow hiring, which may indicate that the US labor market remains solid.
EXCL: Will Carry Out a Right Issue. PT XL Axiata Tbk (EXCL) will carry out a right issue by offering 2,403,755,889 new shares or 18.31% of the issued and fully-paid up capital with a nominal value of IDR100/share and an exercise price of IDR2,080 per share. Additionally, from this right issue, EXCL will raise funds of IDR4,999,812,249.120. (Emiten News)
Consumer Confidence Declined in November. Consumer Confidence declined in November 2022. Bank Indonesia (BI) noted that the Consumer Confidence Index (CCI) in the reporting month was 11.91, lower than 120.3 in October 2022. More detail, the Consumer Expectation Index was recorded at 127.9 or decreased compared to the previous month, which was 128.3. Even the Current Economic Condition Index is recorded at 110.3, lower than 112.3 in October 2022. (Kontan)
Consumer Optimism Colors SUN Market. Although Indonesia’s Consumer Confidence Index in Nov. slightly decreased to 119.1 (vs. Oct. 120.3) amid efficiency policy sentiment among several startups, this level is still far from the optimistic area (>100). The consumer optimism survey was mainly supported by the productive age of 20-30, who are confident with income expectations and employment availability.
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