Consumer Confidence Weakened, but Remains Optimistic in March 2022

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Vika Azkiya Dihni 11/04/2022 10:50 WIB

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Bank Indonesia's (BI) consumer survey results show that consumer confidence weakened in March 2022 compared to the previous month.

Indonesia Consumer Confidence Index (March 2021-March 2022)

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Consumer Confidence Weakened, but Remains Optimistic in March 2022

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Indonesia Consumer Confidence Index (March 2021-March 2022)

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Bank Indonesia (BI)'s consumer survey shows that consumer confidence weakened in March 2022 compared to the previous month.

The Consumer Confidence Index (CCI) in March 2022 was recorded at 111.0. This figure is lower than the January-February 2022 period, as shown in the graph, but the level remains in the optimistic zone, above 100 points.

The Consumer Confidence Index (CCI) is an index reflecting the average confidence of Indonesian consumers regarding the current economic conditions and their expectations for the coming period.

According to the BI survey, the decline in the CCI in March 2022 was due to more limited expectations regarding future economic conditions. This is indicated by the Consumer Expectation Index (CEI) of 128.1 in March 2022, slightly slower than 130.8 in the previous month.

Similarly, the Current Economic Conditions Index (CECI) in March 2022 was recorded at 93.9, slightly moderated from the previous month's 95.5.

With this decrease, the average CCI in Q1-2022 also decreased to 114.6, from 116.7 in Q4-2021.

Despite the decline, BI stated that consumer confidence remained strong in March 2022, supported by expectations of future economic conditions remaining at an optimistic level, including expectations regarding income, job availability, and business activity.

Meanwhile, consumers perceived that current economic conditions did not meet expectations, particularly regarding current job availability and the purchase of durable goods.

(Also Read: [Although Weakened, Consumer Income Expectations Remain Optimistic in February 2022](https://databoks.katadata.co.id/datapublish/2022/04/06/meski-melemah-ekspektasi-penghasilan-konsumen-tetap-optimistis-pada-februari-2022))

Editor : Adi Ahdiat

"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."