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Consumer confidence inches up, maintaining 20-month trend
A nationwide survey by Bank Indonesia (BI) has found that Indonesians remain relatively optimistic, particularly in their assessments about current economic conditions.
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A shopper chooses drugs at a Hypermart outlet in Jakarta in October 2023. (JP/Nurhayati/Adi)
B
ank Indonesia’s (BI) consumer confidence index (CCI) marginally increased in December last year to the level of optimism maintained since May 2022.
At 123.8, the index reading was up from 123.6 registered in November, according to the latest results of the monthly nationwide survey.
“Rising consumer confidence in December 2023 was pushed by a strengthened current economic conditions [subindex],” wrote BI spokesperson Erwin Haryono in a press statement released along with the survey results on Tuesday.
Since May 2022, consumer confidence in Indonesia has consistently remained above 100, the figure that separates overall consumer optimism from pessimism, which in turn affects consumer spending.
The current economic conditions subindex inched up to 113.6 in December from 113 the prior month, meaning survey respondents expressed more positive views about the present state of the economy.
BI detailed that this was also reflected in answers by survey respondents that suggested consumers were more inclined to fork out on durable goods.
Meanwhile, respondents were slightly less optimistic about job availability and their income. This decrease was particularly pronounced among postgraduates, according to details of the central bank survey.
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