Indonesian Consumer Confidence Grows in March: BI

Jakarta: The latest Consumer Survey conducted by Bank Indonesia (BI) revealed how consumer confidence continued to grow in March 2021.
 
It was confirmed by an increase in the Consumer Confidence Index (CCI) to a level of 93.4 from 85.8 and 84.9 in February and January 2021 respectively. 
 
Consumer confidence was buoyed by the expeditious and orderly national vaccination program rollout, which stoked confidence in current economic conditions and future expectations.  

"Respondents across all spending and education brackets were more upbeat in the reporting period, along with consumers in 12 of the surveyed cities, most significantly in Surabaya, followed by Manado and Pontianak," said BI Communication Department Head Erwin Haryono in a press release on Friday.
 
Consumers were more confident in March 2021 based on their expectations of economic conditions moving forward and their perception of current economic dynamics, with future expectations elevated by job availability, business activity and income in the next six months.  
 
In addition, consumer perception of current economic conditions improved in line with job availability, income and conditions for purchasing durable goods.
 
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