Consumer Confidence in the Economy Increased by 4.5% in November 2021

Bank Indonesia (BI) reports that consumer confidence in economic conditions continues to strengthen. This is reflected in the Consumer Confidence Index (CCI) score, which increased by 4.5% to 118.5 in November 2021 from 113.4 the previous month.

The increase in the CCI in November 2021 was driven by an improvement in consumer perception of current economic conditions. The Current Economic Conditions Index (CECI) was recorded at 99.2 in November 2021, an 8.06% increase from 91.8 the previous month.

In line with this, consumer expectations regarding economic conditions over the next six months also strengthened. This is reflected in the Consumer Expectation Index (CEI) of 137.8, a 2.15% increase compared to 134.9 the previous month.

Based on respondent groups, the increase in the CCI in November 2021 occurred across all expenditure and age groups.

Based on expenditure groups, the highest increase in the CCI in November 2021 occurred in the Rp 4.1-5 million expenditure group, increasing by 5.25% month-on-month (m-o-m) to 120.1. The lowest increase in the CCI came from the group with expenditures exceeding Rp 5 million, which only increased by 2.04% (m-o-m) to 124.9.

According to age group, the highest increase in the CCI was among respondents aged 51-60 years, increasing by 6.1% (m-o-m) to 114.7. The lowest increase in the CCI was among respondents aged 41-50 years, increasing by 2.8% (m-o-m) to 114.5.

Meanwhile, from a spatial perspective, an increase in consumer confidence in November 2021 was recorded in almost all surveyed cities. The highest increase occurred in Pontianak city at 25.5 points, followed by Palembang at 15.6 points, and Mataram at 14.6 points.