JAKARTA – Although consumers’ optimism towards the economy increases in December 2022, the expectation towards the economic condition within the next 6 months is seen declining. It is reflected through the result of the Consumer Survey of Bank Indonesia (BI) issued yesterday (9/1).

As quoted in Tuesday (10/1), Erwin Haryono, Executive Director and Head of Communication Department of Bank Indonesia (BI), claimed that the Consumer Confidence Index (IKK) in December 2022 shifted 0.8 points to 119.9 from 119.1 in November 2022. “The increase of IKK is driven by the Economic Condition Index (IKE), which rises from 110.3 to 112.4,” he added.

The increase of IKE is seen throughout all components of index, including the income index that climbs 3.9 points to 120.3 in December 2022. Other indexes, such as working opportunity index and durable goods, were also seen increasing.

However, the consumers’ expectation towards the economic condition is corrected in December 2022. The Economic Expectation Index (IEK) is down to 127.3 from 127.9 in November 2022. The decrease is driven by the declining expectation towards the available working opportunities and business activities that drop 2.5 points and 0.6 points to 123.9 and 125.6, respectively, in December 2022. (LK/ZH)