Bank Indonesia Reports Consumer Confidence Index Increases Slightly in July 2024

Illustration (Photo: Doc Antara)

JAKARTA - Bank Indonesia (BI) reported that the consumer confidence index (CCI) increased in July 2024, compared to June 2024.

Based on the results of a Bank Indonesia consumer survey, the consumer confidence index in July 2024 was 123.4.7, slightly higher than the previous month of 123.3.

The increase in consumer confidence in July 2024 was driven by consumer confidence in the current economic conditions which are improving and expectations for future economic conditions which remain optimistic.

The Current Economic Condition Index (IKE) in July 2024 was recorded at 113.5 or an increase from the previous month of 112.9.

While the Consumer Expectation Index (IEK) in July 2024 was recorded at 133.3, but down from the previous month which was recorded at 133.8.

In July 2024, consumer confidence was observed to remain optimistic in all spending categories.

The highest increase in IKK was recorded in respondents with expenditure of IDR 2.1 to IDR 3 million.

Based on age, the highest IKK occurred in the age group of 20 to 30 years.

Spatially, the CCI increased in most of the cities surveyed, the largest in Banjarmasin City by 14.8 points, followed by Mataram 7.4 points and Padang 7.2 points.

Meanwhile, some others recorded a decline in the IKK, especially in Bandar Lampung City at 16.3 points, followed by Pontianak at 10.3 points and Banten at 6.8 points.