Consumer optimism on Indonesia’s economic conditions increases

Jakarta (Indonesia Window) – A consumer survey by the central bank, Bank Indonesia (BI), in April 2022 indicated that consumer confidence in Indonesia’s economic condition has increased, an official of the central bank said.

The consumer confidence was reflected in the April 2022 Consumer Confidence Index of 113.1, an increase from 111.0 in the previous month, Head of the Communications Department of Bank Indonesia, Erwin Haryono, said in a statement on Thursday.

The increase in the index was observed in the majority categories of the respondents’ expenditure, age group, and education, he said, adding that the largest increase in the index occurred in Bandar Lampung city (Lampung province), Samarinda (East Kalimantan province) and Denpasar (Bali province), Erwin said.

According to Erwin, the increase in the consumer confidence in April 2022 was driven by improved consumer perceptions of the country’s current economic condition.

He explained that the increase was related to perceptions of current income, job availability, and increased purchases of durable goods.

Supported primarily by income expectations, the consumers’ hope for Indonesia’s future economic condition remained at an optimistic level (index >100) although not as high as the previous month.

Reporting by Indonesia Window