Consumer Confidence in Economic Conditions Decreases in September 2022

Bank Indonesia (BI) reports a decline in consumer optimism regarding current economic conditions compared to the previous month. This is reflected in the Current Economic Index (IKE) for September 2022, which stood at 108.3, remaining in the optimistic range (>100), although lower than the 111.7 recorded in August 2022.

Despite this, BI states that consumer optimism towards the economy remains. This is supported by optimism regarding current income and job availability, with the Current Income Index and the Current Job Availability Index recording 114.5 and 107.9 respectively, although lower than the previous month's figures of 119.8 and 112.2.

Meanwhile, the Durable Goods Purchase Index stood at 102.5, down from 103.1 the previous month. Spatially, the decline in IKE occurred in almost all surveyed cities, with the steepest drop in Medan (-22.1 points), followed by Padang (-21.6 points) and Mataram (-11.7 points).

In September 2022, consumer perception of current income compared to the previous six months was lower than the previous month across all expenditure categories, with the largest decrease among respondents with expenditure levels of Rp2.1-3 million. Based on age group, the Current Income Index also showed a decline across all respondent age categories, particularly among respondents aged 31-40 years.

The Consumer Confidence Index (IKK) for September 2022 was 117.2, slightly lower than the 124.7 recorded in August 2022. However, this is better than the 95.5 recorded in the same period the previous year.