BI Survey: Consumer Optimism Rising in Indonesia

The office of Bank Indonesia (BI).
The office of Bank Indonesia (BI).

Bank Indonesia (BI) reported the results of the survey in January 2023. In the survey, BI revealed that there were indications that consumer confidence in economic conditions had increased compared to the achievements in the previous month.

"This is reflected in the January 2023 Consumer Confidence Index (IKK) of 123.0 which was higher than December 2022 of 119.9," said Head of the BI Communication Department Erwin Haryono in a written statement, Wednesday (8/2/2023).

Erwin explained that the strengthening of consumer confidence in January 2023 was driven by an increase in the Consumer Expectation Index (IEK).

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Erwin said, the increase in the IEK was seen in all its constituent components, especially the Business Activity Expectation Index and the Job Availability Expectation Index.

BI recorded the IEK in January 2023 at 133.9, higher than 127.3 in the previous month. Meanwhile, consumer confidence in current economic conditions is still in the optimistic zone

The Current Economic Condition Index (IKE) also remains strong. "This is with an increase, especially in the Job Availability Index," explained Erwin.

Based on the survey, January 2023 IKE is in the optimistic zone of 112.1. The strong January 2023 CEI was supported by an increase in the Job Availability Index and an increase in the Durable Goods Purchase Index.

BI recorded a Job Availability Index of 112.1 in January 2023 which was higher than the previous month's 110.9. Meanwhile, the Durable Goods Purchase Index in January 2023 was recorded at 106.5, which was higher than the previous month's 106.2.

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