Jakarta, CNBC Indonesia – Along with the easing of the Policy for the Enforcement of Restrictions on Community Activities (PPKM), the economic activity of the Indonesian people is booming again. One of the visible impacts of easing the PPKM is that it seems now easier to find work.
Bank Indonesia (BI) reported the Consumer Confidence Index (IKK) for the November 2021 period of 118.5. An increase compared to the previous month which was 113.4 as well as the highest since January 2020. It has returned to what it was before the corona virus pandemic (Coronavirus Disease-2019/Covid-19) terrorizes the country.
IKK uses the number 100 as a starting point. If it is above 100, it means that consumers are confident in viewing the current economic conditions for the next few months.
The CPI is divided into two major sub-indices, namely the Current Economic Condition Index (IKE) and the Expected Economic Condition Index (IEK). IKE in November 2021 stood at 99.2, up from 91.8 in the previous month. Meanwhile, the CPI was recorded at 137.8, compared to October 2021 which was 134.9.
IKE is still below 100, but it is very close to that threshold. The increase in IKE was due to continued improvement in economic activity and people’s incomes in line with increased mobility as mobility restrictions continued to be relaxed.
“The increase in IKE was driven by increases in all of its constituent components, particularly the Job Availability Index and the Current Income Index, which rose by 9.7 and 7.8 points, respectively, to 96.3 and 108.3,” said the BI report.
Meanwhile, IEK is already in the optimistic zone, even increasing. Like IKE, the cause is related to the availability of job opportunities and business activities.
“The November 2021 Economic Conditions Expectation Index was recorded at 137.8, an increase from 134.9 in October 2021, driven by an increase in all components of the IEK, especially expectations for business activities which were recorded at 140.7, higher than 134.7 in the previous month. Meanwhile, the Income Expectation Index and the Employment Availability Expectation Index in the next 6 months were recorded at 137.9 and 134.9, respectively,” said the BI report.
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