Indonesia’s consumer confidence increases to 113.4 in October as public mobility improves

Jakarta (Indonesia Window) – A consumer survey by Indonesia’s central bank, Bank Indonesia (BI), in October 2021 indicated that the consumer confidence continued to strengthen in line with improving community mobility.

This is reflected in the October 2021 Consumer Confidence Index which was recorded at 113.4, an increase from 95.5 in September 2021, making it back to the optimistic area (>100).

“The increase in the index was observed in all expenditure categories, education levels, and respondents’ age groups,” Head of BI’s Communications Department Erwin Haryono said in an official statement here on Monday (Nov. 8).

Spatially, the Consumer Confidence Index increased in almost all cities surveyed, with the highest score found in Banten city, followed by Makassar (South Sulawesi) and Banjarmasin (South Kalimantan).

According to Erwin, the increase in the Consumer Confidence Index was mainly driven by the improvement in the current Economic Condition Index and the Consumer Expectation Index.

Consumers’ perceptions of economic conditions are now improving, especially perceptions of employment and income.

“This development is influenced by improvements in economic activity and people’s incomes, along with the easing of mobility restriction policies in various regions in Indonesia following the COVID-19 handling,” he said.

In addition, Erwin continued, consumer expectations for future economic conditions have also been observed to strengthen and remain in the optimistic area. These are also supported by increases in all of constituent aspects, including expectations of income, job availability, and business activity.

Reporting by Indonesia Window