JAKARTA - The Bank Indonesia Consumer Survey indicates that improvement in consumer confidence in economic conditions was restrained in September 2020. This is reflected in the Consumer Confidence Index (IKK) in September 2020 of 83.4, lower than 86.9 in August 2020.
The restriction of improvement in consumer confidence occurred in all categories of respondents, both according to expenditure levels and age groups. Spatially, consumer confidence decreased in 13 of the 18 cities surveyed, with the deepest decline in DKI Jakarta, followed by Denpasar and Padang.
The restrained improvement in consumer confidence in September 2020 was mainly due to lower consumer expectations of economic conditions in the next 6 months. This is due to the not-so-strong predictions of expansion in business activity, job availability and future income, although at an optimistic level.
Meanwhile, consumer confidence in current economic conditions declined, as consumer confidence in income and purchases of durable goods declined. (LM)