Consumer optimism continues to strengthen in May 2022

09 June 2022 11:53

JAKARTA - The May 2022 Consumer Survey indicates that optimism for economic conditions continues to strengthen. This is indicated by the Consumer Confidence Index (IKK)[1] in May 2022 of 128.9, higher than 113.1 in the previous month.

The increase in IKK was observed in all categories of expenditure, age, and education level of respondents. Spatially, the increase in IKK occurred in almost all cities covered by the survey, with the highest in Bandung, followed by Pangkal Pinang and Mataram.

Strong consumer confidence in May 2022 was driven by increased consumer perceptions of the current economic conditions. This increase occurred in perceptions of current income, job availability, and purchases of durable goods.

The strengthening of consumer confidence in May 2022 was also driven by rising consumer expectations of future economic conditions, especially expectations of future business conditions. (LM)

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