Public Remains Pessimistic about the Current Economic Conditions
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In a Bank Indonesia (BI) consumer survey, consumer confidence in the current economic conditions remains pessimistic. This is because the index remains below 100 points. The Current Economic Conditions Index (IKE) shows a decline, from 55.6 points in August 2020 to 54.1 points in September 2020.
The weakening IKE is directly related to policies aimed at controlling the Covid-19 pandemic. This is because a number of local governments have re-implemented large-scale social restrictions (PSBB). Consequently, economic activity has also decreased, followed by a reduction in public income, whether in the form of salaries, fees, or business turnover.
The declining components of the IKE stem from the Current Income Index, which decreased from 59.8 points in August 2020 to 57.6 points the following month. In addition, the Durable Goods Purchase Index also weakened from 71.8 points to 69.5 points during the same period.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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