BI Reveals Consumer Confidence Index Is Maintained

Illustration (Photo: Doc Antara)

JAKARTA - Bank Indonesia (BI) reported that the Consumer Survey in October 2024 indicated that consumer confidence in economic conditions was maintained.

This is reflected in the October 2024 Consumer Confidence Index (IKK) which is in an optimistic area of 121.1.

Executive Director of the Communication Department, Ramdan Denny Prakoso, said that consumer confidence in October 2024 was maintained based on consumer confidence in the current economic condition and optimism for future economic conditions.

"The current Economic Condition Index (IKE) and the October 2024 Consumer Expectation Index (IEK) were recorded at 109.9.9 and 132.4.4," he explained in his statement, Monday, November 11.

Ramdan said that in October 2024 consumer confidence was recorded as remaining optimistic in all expenditure categories.

Meanwhile, the increase in IKK was recorded in respondents with expenditures of Rp. 1 - 2 million. Meanwhile, based on age, IKK increased in the age group of 20 - 30 years.

Meanwhile, spatially, IKK increased in some cities surveyed, the highest in Bandar Lampung City (8.9 points) followed by Banjarmasin (4.5 points) and Mataram (3.3 points).

Ramdan said that in October 2024 consumer perceptions of current economic conditions remained strong, as reflected in IKE-October 2024 of 109.9.

According to Ramdan, the maintenance of IKE in October 2024 is supported by the Current Income Index, the Employment Availability Index, and the Durable Goods Index, which are located in optimistic areas, amounting to 117.9, 104.7, and 107.0, respectively.

Meanwhile, spatially, some cities recorded an increase in IKE, the largest in Banjarmasin City (6.8 points), followed by Ambon (5.2 points) and Manado (3.7 points).

While some other cities recorded a decrease in IKE, especially in the cities of Surabaya (12.9 points), Pontianak (8.3 points), and Padang (7.3 points).

Ramdan conveyed that consumer expectations of economic conditions in the next six months are predicted to remain strong.

This is reflected in the October 2024 IEK which is in the optimistic zone with a value of 132.4.

According to Ramdan, the strong IEK is supported by the optimism of all its components, namely expectations of income, employment availability, and business activities, respectively at 138.4, 129.5, and 129.2.

Spatially, several cities recorded an increase in IEK, the largest in Bandar Lampung City (14.5 points), followed by Banten (5.5 points) and Mataram (3.0 points).