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Jakarta Post

Consumer confidence recovery fragile as pandemic’s end uncertain

  • Adrian Wail Akhlas

    The Jakarta Post

PREMIUM
Jakarta   /   Wed, December 9, 2020   /  09:01 am
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Shoppers and vendors mill around Tanah Abang Market in Central Jakarta on June 15.(JP/Dhoni Setiawan)

Economists and businesspeople have warned that the recovery in consumer confidence in November remains fragile – despite hopes of a year-end holiday shopping spree – because of continuing uncertainty about how long the pandemic will last. Indonesian consumer sentiment improved significantly in November to its highest level since March, when the country recorded its first COVID-19 cases, as economic activity picked up in response to relaxations of movement restrictions, boosting consumer optimism regarding job availability and income growth, despite continuing surges in coronavirus cases. A survey by Bank Indonesia (BI) released on Tuesday showed that the consumer confidence index (IKK) rose to 92 in November, up significantly from 79 in October. An IKK value above 100 reflects general hopefulness, while a value below 100 signifies pessimism. “The government&rsq...