Bank Indonesia: Availability Of Jobs And Income Boost Consumer Optimism Ahead Of The End Of The Year

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - Bank Indonesia (BI) reported that the Consumer Confidence Index (IKK) in November 2021 was 118.5.

Head of the BI Communications Department Erwin Haryono said this figure was higher than the October 2021 period, which was 113.4.

"The strengthening of consumer confidence in November 2021 will be driven by improved consumer perceptions of current economic conditions, especially perceptions of the availability of jobs and income," he said as reported by the official website, Wednesday, December 8.

According to Erwin, the consumer survey conducted by Bank Indonesia in November 2021 indicated consumer optimism for the continued strengthening of economic conditions.

"This increase is in line with the continued improvement in economic activity and people's incomes driven by increased mobility as mobility restrictions continue to be relaxed," he said.

Furthermore, Erwin said that consumers' expectations of future economic conditions were also recorded to improve.

"This is also supported by the increase in all of its constituent indices, with the highest increase in the business activity expectation index," concluded Erwin.