Consumer Optimism Drops, Bank Indonesia Claims Still at Strong Level

JAKARTA - The Bank Indonesia (BI) survey stated that the Consumer Confidence Index (IKK) in June 2022 was recorded at 128.2.

Head of the BI Communications Department Erwin Haryono said this level slightly decreased compared to the May 2022 book which was 128.9.

"Consumer optimism towards economic conditions remains strong and relatively stable compared to the previous month because it is more than index 100," he said in a written statement on Friday, July 8.

According to Erwin, the confidence of consumers that are maintained is supported by the strengthening of consumer expectations for future economic conditions, especially on income and employment.

"In the quarterly terms, the average IKK during the second quarter of 2022 period increased compared to the previous quarter," he said.

Erwin added that the average value of the Consumer Confidence Index in the second quarter of 2022 was recorded at 123.4, higher than 114.6 in the first quarter of 2022.

"This increase is driven by consumer optimism for current economic conditions, both in terms of income, availability of jobs and accuracy in buying long-lasting goods," he said.

"In line with the increasing consumer optimism for current economic conditions, consumer expectations of future economic conditions have also increased in all aspects, namely the availability of jobs, business activities, and income," concluded Head of the BI Communications Department Erwin Haryono.