Bank Indonesia: Consumer Confidence In Economic Conditions Increases

Illustration (Photo: Doc. Ministry of Finance)

JAKARTA - The monetary authority of Bank Indonesia (BI) stated that a consumer survey conducted in August 2022 indicated that consumer confidence in economic conditions had increased.

Head of the Communications Department, Erwin Haryono, said this was reflected in the August 2022 Consumer Confidence Index (IKK) of 124.7, higher than 123.2 in July 2022, and consistently remained in the optimistic zone (IKK) 100.

"The increase in IKK in August 2022 was recorded in most categories of expenditure rates, age groups, and educational levels of respondents", he said in BI's latest report on Thursday, September 8.

According to Erwin, increasing consumer optimism in August 2022 was driven by increased consumer confidence in current economic conditions and expectations for the future economy.

In fact, Erwin revealed that the Current Economic Index (IKE) has increased in all of its constituent components, the highest in the current income index, and the Consumer Expectation Index (IEK) which are also recorded to increase.

"This brings the good potential for future business activity expectations", concluded Erwin Haryono, Head of the Communications Department.