JAKARTA - The Bank Indonesia Consumer Survey (SK) in May 2021 indicated that consumer optimism for economic conditions continued to strengthen.
This is reflected in the May 2021 Consumer Confidence Index1 (IKK) of 104.4, an increase compared to the April 2021 IKK of 101.5. Consumer confidence was observed to improve in most categories of expenditure level, education level, and age group of respondents. Spatially, consumer confidence improved in the 6 cities surveyed, the highest in Medan, followed by Surabaya and Manado.
Based on the results of the Decree, the strengthening of consumer optimism in May 2021 was driven by improved consumer perceptions of current economic conditions although they were still in the pessimistic area (<100). This was driven by improved perceptions of job availability, income, and the timeliness of purchasing durable goods.
Meanwhile, consumer expectations for future economic conditions were observed to be relatively stable compared to achievements in the previous month. Expectations of job availability increased, while expectations of business activity and income were quite strong although lower than levels in the previous month. (LM)