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Consumer Confidence Index reaches 113.8 in March 2020

06 April 2020 10:56

JAKARTA - Bank Indonesia's Consumer Survey in March 2020 shows consumer optimism is still maintained at a positive level. This is reflected in the March 2020 Consumer Confidence Index (IKK) which remained at an optimistic level (above 100) of 113.8, although not as strong as the previous month's optimism with 117.7.

Consumer optimism is stifled due to the decline in consumer perceptions of current economic conditions and expectations of future economic conditions. The decline in consumer perceptions of current economic conditions is mainly influenced by the availability of more limited jobs. While consumer expectations of future economic conditions are being held back by consumers' perceptions of the condition of business activities in the next 6 months that are not as strong as consumers' perceptions in the previous month.

The survey results indicate consumption expenditure for the next 3 months (June 2020) is predicted to be maintained. This is reflected in the forecast index for household consumption in the next 3 months amounting to 165.5, relatively stable compared to the achievements in the previous month. The continued sustained consumption spending was mainly driven by demand which is predicted to increase during the fasting month of Ramadan and the celebration of Idul Fitri. (LM)

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