JAKARTA - The Bank Indonesia Consumer Survey (SK) for March 2021 indicates continued improvement in consumer confidence in economic conditions. This is reflected in the Consumer Confidence Index (IKK) [1] in March 2021 of 93.4, an increase compared to 85.8 and 84.9 in February and January 2021.
Respondents stated that the progress of the national vaccination program which is running smoothly has led to improvement in confidence in current economic conditions and future expectations. Improvement in consumer confidence was recorded in all categories of respondents' expenditure levels, as well as in all education groups. Spatially, consumer confidence improved in the 12 cities surveyed, the highest in Surabaya, followed by Manado and Pontianak.
Based on the SK results, the improvement in consumer confidence in March 2021 was driven by improving consumer expectations of future economic conditions and perceptions of current economic conditions.
Respondents said that the improvement in consumer expectations of future economic conditions will be supported by better expectations of job opportunities, expansion of business activities and income in the next 6 months. In addition, consumer perceptions of current economic conditions have been observed to improve, driven by improved perceptions of job availability, income and the purchase of durable goods. (LM)