BI Reveals Consumer Confidence Index Against Economic Conditions Remains Strong In May 2024

JAKARTA - Bank Indonesia (BI) revealed that the consumer confidence index in May 2024 for economic conditions remains strong compared to the previous month.

Based on the results of a survey by Bank Indonesia (BI), it indicates that the consumer confidence index (IKK) in May is 125.2, or higher than in the previous month of 127.7.

The strong consumer confidence in May 2024 was driven by consumer confidence in current economic conditions and expectations of future economic conditions that remain optimistic.

The Current Economic Condition Index (IKE) and the Consumer Expectation Index (IEK) in May 2024 were recorded at 115.4 and 135.0, respectively.

In May 2024, consumer confidence was observed to remain optimistic in all expenditure categories. The highest optimism was recorded in respondents with an expenditure of IDR 4.1-5 million. Based on age, consumer confidence in May 2024 was also observed to be optimistic in all age groups.

Spatially, IKK increased in several cities surveyed, the largest in Manado City (9.6 points), followed by Makassar (5.8 points) and DKI Jakarta (2.8 points).

Meanwhile, most other cities recorded a decline in IKK, especially in Pontianak City (7.6 points), followed by Medan (6.9 points) and Banten (6.7 points).