Good News From Bank Indonesia Survey: Consumer Confidence Rises To Optimistic Levels As Mobility Easing

JAKARTA - Bank Indonesia (BI) reported that there was an increase in consumer confidence in October 2021 based on the results of a survey conducted some time ago.

Head of the Communications Department Erwin Haryono said the October 2021 Consumer Confidence index (IKK) was recorded at 113.4, an increase from 95.5 in September 2021 and claimed to be back in the optimistic area (more than 100).

"Consumer confidence in economic conditions continues to strengthen in line with improving community mobility," he said in a press statement, Monday, November 8.

and age group of respondents. Spatially, the IKK increased in almost all cities surveyed, the highest in Banten, followed by Makassar and Banjarmasin.

“The increase in the CPI was mainly driven by the improvement in the Current Economic Condition Index (IKE) and the Consumer Expectation Index (IEK). It has been observed that consumer perceptions of economic conditions have improved, especially perceptions of current employment and income," he said.

Erwin said this development was influenced by improving economic activity and people's incomes, along with the easing of mobility restriction policies in various parts of Indonesia as a result of the response to the better handling of COVID-19.

Meanwhile, consumer expectations for future economic conditions were also observed to strengthen and remain in the optimistic area.

"The strengthening of consumer expectations was supported by increases in all of its constituent aspects, namely income expectations, job availability expectations, and business activity expectations," Erwin concluded.