Indonesia’s consumer confidence better in November: Survey

  Jakarta (Indonesia Window) – Indonesia’s consumer confidence on the current economic condition in November 2020 is better than that in the previous year, according to a survey conducted by the Indonesian central bank.

“The Consumer Confidence Index in November 2020 showed that the consumer confidence was recorded at 92.0, an increase compared to 79.0 in the previous year,” Executive Director of the Communication Department at the Indonesian central bank, Bank Indonesia, Erwin Haryono, said in an official statement here on Tuesday.

The consumer confidence is strengthening at all the categories of the respondents’ expenditures and age groups, he said.

The survey recorded that West Kalimantan province’s capital of Pontianak has the highest consumer confidence, followed by East Kalimantan province’s capital of Samarinda and Lampung province’s capital of Bandar Lampung.

According to Erwin, the improvement in the confidence of the consumers was supported by their expectation on Indonesia’s improving economic condition in the future including expansion of business activities, workers’ better incomes and availability of more job opportunities in the next six months.

Meanwhile, the consumers’ perception on the current economic condition is also improving although the economy is still in the area of contraction. The consumers also show improving perception on better incomes and availability of job opportunities.

Reporting by Indonesia Window