Indonesians Optimistic on the Economy: Central Bank

TheIndonesia.co - Recent survey revealed a rising optimism among Indonesians on national economic outlook. According to report released by Bank Indonesia, Consumer Confidence Index (CCI) in November rose from the figure in October.

Director of communications at the central bank Erwin Haryono said the finding indicated public trust for a growing economy in Indonesia, while the country continues to adapt to the ongoing pandemic.

“[The optimism] is reflected in the Consumer Confidence Index in November at 118.5, higher than the 113.4 in October,” Haryono said in a statement as quoted by Antara news agency on Wednesday, December 8, 2021.

Generally, a figure below 100 indicates rather pessimistic view on the economic conditions, and figure above suggests consumer’s confidence.

The November Index increased in all spending categories and age groups.

Haryono said the increasing confidence is based on several factors, which are mainly triggered by more mobility during the COVID-19 pandemic.

“The increase is in line with the improving economic activities and income as mobility increased due to the easing of restrictions,” he explained.

The consumer’s perceptions of current income and employment availability improved, based on the survey.

Meanwhile, Consumer Expectation Index, or CEI, in November also increased to 137.8 from 134.9 in October. Among some of the factors is the generally increasing expectations for business activities as well as employment availability in the coming six months.