Jakarta: The latest Consumer Survey conducted by Bank Indonesia revealed that growing consumer confidence in economic conditions was restrained in September 2020.
The central bank's Consumer Confidence Index (CCI) deteriorating to a level of 83.4 in September 2020 from 86.9 in August 2020.
"Confidence has retreated amongst respondents across all age and spending brackets," said BI Communication Department Head Onny Widjanarko said in a media release on Tuesday.
"Regionally, consumer confidence has declined in 13 out of the 18 cities surveyed, most significantly in Jakarta, followed by Denpasar and Padang," he stated.
The main drag on consumer confidence in September 2020 were consumer expectations of economic conditions in the next six months, held back by lower yet optimistic expectations of business performance, job availability and income moving forward.
Meanwhile, consumers were also less upbeat on current economic conditions, as confidence has been eroded in terms of income and conditions for buying durable goods.