Consumer Confidence Continues to Grow: BI

    Wahyu Dwi Anggoro - 06 Agustus 2020 10:48 WIB
    Consumer Confidence Continues to Grow: BI
    Illustration ( Rizal)
    Jakarta: The most recent Consumer Survey conducted by Bank Indonesia (BI) in July 2020 indicated that despite remaining in pessimistic territory with a reading below 100, consumer confidence has continued to improve. 

    Increasing consumer confidence was reflected by a bump in the Consumer Confidence Index (CCI) to a level of 86.2 in July 2020 from 83.8 one month earlier. 

    "Consumers across all age and nearly all spending categories reported higher confidence as well as respondents in 13 of the surveyed cities, led by Mataram, followed by Denpasar and Pangkal Pinang," BI said in a media release on Thursday.

    Consumers were more upbeat in July 2020 based on their perception of current economic conditions, namely income, job availability, and conditions for buying durable goods, as the government continues to wind down large-scale social restrictions in various cities throughout Indonesia, leading to an increase of economic activity. 

    On the other hand, consumer expectations of economic conditions in the next six months remained relatively stable in line with tempered expectations concerning income and job availability amid improved expectations regarding business activity moving forward.


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