Consumer Confidence Increased in November 2024

Based on a Bank Indonesia (BI) survey, the Consumer Confidence Index (CCI) in November 2024 stood at 125.86. An index above 100 indicates optimistic consumer sentiment, while below 100 indicates pessimism.

The November 2024 CCI figure increased compared to the previous month and was higher than November of the previous year, as shown in the graph.

"The increase in consumer confidence in November 2024 stems from stronger consumer confidence in both current and future economic conditions," BI stated in its November 2024 Consumer Survey Report.

BI noted that in November 2024, the Current Economic Conditions Index (CECI) was at 113.47, higher than the previous month's 109.88.

The Consumer Expectations Index (CEI) stood at 138.25, higher than the previous month's 132.35.

"Both the CECI and CEI increased across all their constituent components," BI stated.

The CECI component, Current Income Index, rose from 117.88 in October 2024 to 121.94 in November 2024.

During the same period, the CECI component, Job Availability Index, increased from 104.74 to 110.13; and the Durable Goods Purchase Index rose from 107.01 to 108.35.

Furthermore, the CEI component, Expected Income Index, increased from 138.45 to 141.75; the Expected Job Availability Index rose from 129.45 to 136.76; and the Expected Business Activity Index increased from 129.18 to 136.25.

Of the 18 cities surveyed by BI, consumer confidence increased in 15, while it decreased in the remaining 3. However, overall, the index in all these cities remained above 100, or in the optimistic zone.

Here's a breakdown of the CCI in the 18 cities during the October-November 2024 period:

1. Padang: increased from 102.92 to 119.25
2. Palembang: increased from 110.94 to 122.44
3. Ambon: increased from 109.42 to 119.25
4. Pontianak: increased from 112.25 to 120.17
5. Bandung: increased from 105.70 to 113.00
6. Surabaya: increased from 125.77 to 130.77
7. Medan: increased from 101.32 to 106.30
8. Makassar: increased from 122.83 to 127.08
9. DKI Jakarta: increased from 135.48 to 139.71
10. Banten: increased from 113.75 to 117.00
11. Pangkal Pinang: increased from 118.25 to 121.17
12. Bandar Lampung: increased from 132.08 to 133.75
13. Banjarmasin: increased from 114.17 to 114.51
14. Denpasar: increased from 142.75 to 143.08
15. Semarang: increased from 134.28 to 134.33
16. Samarinda: decreased from 151.50 to 150.75
17. Manado: decreased from 137.75 to 137.00
18. Mataram: decreased from 136.42 to 134.92