BI Survey Shows Optimistic Consumer Stays Strong In July 2023

Illustration (Photo: Doc. Antara)

JAKARTA - The Bank Indonesia (BI) Consumer Survey in July 2023 showed optimism that consumers of the national economic condition remained strong.

This is reflected in the Consumer Confidence Index (IKK) in July 2023 which is maintained in the optimistic zone (>100) at the level of 123.5, although slightly decreased from the achievement in June which was at the level of 127.1.

Quoted from Antara, Thursday, August 10, the Executive Director of the BI Communication Department Erwin Haryono explained that the strong consumer confidence in July 2023 was driven by the Current Economic Condition Index (IKE) and the Consumer Expectation Index (IEK) which remained optimistic.

Although slightly decreased, IKE and IEK survive in the optimistic zone, namely 113.8 and 133.2.

According to Erwin, IKE, which is maintained, is supported by optimism in the Current Income Index which remains strong at the level of 119.7 and the Old Resilience Purchase Index which increased from 107.7 to 108.5.

Meanwhile, the Employment Availability Index showed a 4.6 weakening, from 117.6 in June to 113.0 in July.

On the other hand, IEK remains strong, especially in the Income Expectation Index which is at the level of 136.4. The Employment Availability Expectation Index is recorded at the level of 129.8 and the Business Activity Expectation Index at the level of 133.6.

Based on the expenditure group, consumer confidence in July 2023 was observed to remain optimistic in all categories. The group that recorded the highest optimism was respondents with expenses above IDR 5 million.

When viewed by age, consumer confidence in July 2023 was also observed to be optimistic in all categories of the age of respondents.

As for spatially, most cities recorded a decline in IKK. The city that experienced the deepest decline was Palembang (15.7 points). Then, followed by Semarang (-8.5 points) and Medan (-8.3 points).

Meanwhile, several other cities recorded an increase in IKK, the highest in Mataram (8.7 points), followed by Padang (7.6 points), and Pontianak (4.1 points).