Indonesia’s consumer confidence index in November rises

Jakarta (Indonesia Window) – A consumer survey by the central bank, Bank Indonesia (BI), in November 2021 showed consumer optimism about the continued strengthening of economic conditions.

“This is reflected in the November 2021 Consumer Confidence Index of 118.5, or higher than 113.4 in October 2021,” Executive Director of BI’s Communications Department Erwin Haryono said in an official statement received here on Wednesday (Dec. 8).

Erwin said that November’s consumer confidence index increased in all expenditure categories and respondents’ age groups.

Spatially, the index increased in most of the cities surveyed, with the highest in Pontianak (West Kalimantan province), followed by Palembang (South Sumatra province) and Mataram (West Nusa Tenggara province).

The strengthening of consumer confidence in November 2021 was driven by improved consumer perceptions of the current economic conditions, especially regarding the availability of jobs and income.

“This increase is in line with the continued improvement in economic activity and people’s income due to increased mobility as restrictions continue to be relaxed,” Erwin explained.

He further said that consumer expectations for future economic conditions were also improving, supported by the increases in all of the indexes that make up the economy.

The Consumer Expectation Index for November 2021 was recorded at 137.8, an increase from 134.9 in October, which was driven by an increase in all components, especially expectations for business activities which were recorded at 140.7 or higher than the last month of 134.7.

Meanwhile, the Income Expectation Index and the Job Availability Expectation Index in the next six months were recorded at 137.9 and 134.9, respectively.

Spatially, the Consumer Expectation Index in November 2021 was recorded to increase in most of the cities surveyed with the highest increase in Pontianak (West Kalimantan province), followed by Padang (West Sumatra province) and Bandar Lampung (Lampung province).

Reporting by Indonesia Window