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Consumer optimism remains positive in February 2020

09 March 2020 13:41

JAKARTA - Bank Indonesia's Consumer Survey in February 2020 shows consumer optimism about economic conditions remains positive. This is reflected in the Consumer Confidence Index (CCI) which remains at an optimistic level (above 100) of 117.7, although it’s not as strong as consumer optimism in the previous month with a CCI of 121.7.

Consumer optimism in February 2020 was supported by consumer perceptions that remain good to current economic conditions and expectations of future economic conditions. Consumers continue to view positively the current economic conditions, especially related to current income conditions and the ability to buy durable goods, even though the optimism is not as strong as the previous month.

In addition, consumers continue to have positive expectations on the economic conditions for the next 6 months, both in terms of income, availability of employment and conditions of business activities.

The survey results indicate that consumption expenditure for the next 3 months (May 2020) is predicted to increase. This is reflected in the forecast index for household consumption in the next 3 months, which increased from 162.6 in the previous month to 165.5. The increase was driven by demand that is predicted to increase entering the fasting month of Ramadan and Idul Fitri celebrations. (LM)

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