Consumer confidence index (IKK) rose to 93.4 in March, from 85.8 in February and 84.9 in January.Jakarta (ANTARA) - A survey conducted by Bank Indonesia (BI) found that consumer confidence in the national economy had continued to improve in the past three months.
"The consumer confidence index (IKK) rose to 93.4 in March, from 85.8 in February and 84.9 in January," Executive Director of the BI Communication Department Erwin Haryono noted in a written statement released on Friday.
Haryono attributed the improving consumer confidence index to the smooth national vaccination program, thereby increasing confidence in the current economic condition and expectations of economic recovery in future.
"The improving consumer confidence is recorded in all categories of the respondents' spending and in all educational groups. Consumer confidence improved in 12 cities surveyed, with Surabaya topping the index, followed by Manado and Pontianak," he remarked.
The improving consumer confidence in March was also fueled by high expectations of economic conditions in future, as mirrored in the consumer expectation index (IEK) recorded at 114.1 in March as compared to 106.5 a month earlier.
"It was fueled by high expectations of job opportunities, business expansion, and income in the next six months," he remarked.
Haryono pointed out that the consumers’ perception of the current economic conditions also improved, driven by the improving perception of job opportunities, income, and purchase of durable goods.
The strengthening perception of the current economy was apparent from the current economic condition index (IKE) that rose to 72.6 in March, from 65.1 a month earlier.
BI conducts a monthly survey to observe consumer confidence in the current economic condition. IKK derived from the survey is one of the indicators of household consumption developments in the gross domestic product. The index of above 100 means it is in the area of optimism and a figure below 100 indicates that it is in the area of pessimism.
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Translator: Kuntum Khaira R/Suharto
Editor: Sri Haryati
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