BI Survey: Consumer Optimism Soars To Boost Eid Momentum

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - Bank Indonesia (BI) informs that based on the results of a consumer survey in May 2022, it is known that optimism about economic conditions continues to strengthen.

Head of the BI Communications Department Erwin Haryono said this was indicated by the May 2022 Consumer Confidence Index (IKK) of 128.9, higher than 113.1 in the previous month.

"Increasing optimism in May 2022 is believed to be driven by increased community mobility because there are no restrictions on the Lebaran holiday period this year," he said in a press statement on Thursday, June 9.

According to Erwin, the increase in IKK was observed in all categories of expenditure, age, and education level of the respondents.

"Spatially, the increase in IKK occurred in almost all cities covered by the survey, with the highest in Bandung, followed by Pangkal Pinang and Mataram," he said.

Erwin added, strengthening consumer confidence in May 2022 was also supported by increasing consumer perceptions of the current economic conditions. This increase occurred in perceptions of current income, job availability, and purchases of durable goods.

"The strengthening of consumer confidence in May 2022 was also driven by increasing consumer expectations of future economic conditions, especially expectations of future business conditions," he concluded.