Jakarta (Indonesia Window) – A survey on consumer by the Indonesian central bank, Bank Indonesia (BI), in February 2021 indicated that the consumer confidence in economic conditions improved.
The improvement was reflected in the Consumer Confidence Index in February 2021 which was recorded at 85.8, a slight increase from 84.9 in January 2021.
“The consumer confidence improved as observed on respondents with expenditure levels between 1 million rupiahs and 3 million rupiahs (some 69.99 U.S. dollars and 208.98 U.S. dollars respectively) per month,” a written statement from BI said on Monday.
“Spatially, consumer confidence has improved in seven cities, with the highest surge recorded in Surabaya (East Java), followed by Manado (North Sulawesi) and Makassar (South Sulawesi),” BI said.
According to the central bank, the improving consumer confidence in February 2021 was driven by perceptions of current economic conditions, in terms of job availability, incomes, and timeliness of purchasing durable goods.
“Meanwhile, the consumers’ expectation of future economic conditions remained positive and relatively stable compared to that in the previous month,” the central bank said.
Reporting by Indonesia Window