Hello Recession! Indonesians are more confident in ‘spending money’, the economy can be smoother

Jakarta –

Bank Indonesia (BI) noted consumer optimism about the condition economy increased compared to the previous month. The executive director of the BI communications department, Erwin Haryono, said this was stated in the October 2022 consumer survey.

The Consumer Confidence Index (IKK) in October 2022 was 120.3 up from the previous month at 117.2.

“The rise in consumer optimism in October 2022 was driven by rising consumer confidence, both with respect to current economic conditions and expectations for the future economy,” he said in a written statement on Tuesday (8 / 11/2022).

This is reflected in the Current Economic Conditions Index (IKE) at 112.3 in October 2022. BI also noted that consumers’ perception of current income has increased from six months ago.

As consumer confidence in income generation increases, consumer confidence in the purchase of durable goods also increases. Not only that, consumer expectations for economic conditions over the next six months have also increased, which was reflected in the economic condition expectations at October 128.3, which was higher than September 2022 which was 128.1.

The strengthening of consumer expectations on future economic conditions was mainly driven by expectations on business activity and income expectations which stood at 125.8 and 132.3 respectively, higher than 118.8 and 131.2 in September 2022.

“Meanwhile, consumer expectations for job availability over the next 6 months are reported as slightly lower than the previous month, but maintained at an optimistic level of 126.7,” he said.

Spatially, CPI in October 2022 increased in most of the cities covered by the survey with the highest increase in Samarinda (16.0 points), followed by Banten (13.7 points) and Medan (9 points). , 3 points).

(kil / arabic)