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Consumer confidence inches up from multi-month low
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A worker arranges sweetened drinks in a retail supermarket in Jakarta on Dec. 14, 2023. (Antara/Cahya Sari)
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onsumer confidence in Indonesia has improved slightly but remains at a low level, with an April survey by the central bank showing respondents more positive on the current state of the economy, even as they expect worse times to lie ahead.
The latest monthly survey from Bank Indonesia (BI), released on Friday, shows that the consumer confidence index (CCI) recovered slightly in April to 121.7 points, which marks a slight rebound from 121.1 in the preceding month but is still down significantly from 127.7 in December last year.
In a press statement published along with the survey, BI spokesman Ramdan Denny Prakoso said the increase signaled continued optimism about the country’s economic situation.
He noted that consumers’ perception of current economic conditions had improved in April to a reading of 113.7, up from 110.6 in March.
All three components of the current economic condition subindex, relating to views on current income, perceptions of job availability and plans for durable goods purchases, have seen improvements from the previous month.
Meanwhile, the economic expectations subindex dropped to 129.8 points, extending a decline seen in the past three months.
Consumers’ income expectations improved slightly, but not enough to make up for poorer assessments in the other two components of the economic expectations subindex, which refer to expectations about job availability and business activity.
