BI Survey: Consumer Confidence Rises in November 2019

Jakarta, InfoPublik - Bank Indonesia's Consumer Survey in November 2019 indicated that consumer optimism was stronger.

This was indicated by an increase in Consumer Confidence Index (CCI) to 124.2 from 118.4 the month earlier. Increased consumer optimism occurred in all spending.

In a written statement from Bank Indonesia’s Department of Communication received in Jakarta, Sunday (8/12) stated that the strengthening consumer optimism was driven by improved consumer perceptions of current economic conditions and consumer expectations of future economic conditions.

Moreover, consumer perceptions of the current economic conditions improved driven by better perceptions of job availability, current income, and purchase of durable goods.

In addition, consumers were more optimistic regarding future economic conditions. They were more upbeat in terms of business activities, job availability, and expected income.

The survey indicates that the inflationary pressure for the upcoming 3 months (February 2020) is predicted to slow down. This is reflected in the Price Expectation Index for the next 3 months which declined compared to index in the previous month.

Respondent predicted milder inflationary pressures in the next 6 months (May 2020). This is reflected in the Price Expectation Index for the next 6 months which is higher than the index in the previous month.

The increase is mainly driven by an increase in demand for goods and services during the Ramadan and Eid-ul-Fitr. (Reporter:Isma, Translator: Sugiarti)