Indonesia’s economy shows positive sign

The Bank Indonesia (BI) Consumer Survey for April 2023 indicated that consumer confidence in Indonesia's economic conditions increased compared to the previous month.

In a statement released on May 9, Erwin Haryono, Executive Director of the BI Communication Department, noted that the Consumer Confidence Index (CCI) in April 2023 reached 126.1, higher than the figure of 123.3 in March 2023.

He said that the strengthening of consumer confidence in April 2023 was driven by improvements in the Current Economic Conditions Index (CECI) and Consumer Expectations Index (CEI).

The CECI and CEI in April 2023 were recorded at 116.6 and 135.5, respectively, higher than the previous month's 113.1 and 133.5.

The CECI saw an increase in all of its constituent components, particularly in the job availability and current income indices. The Job Availability Index (JAI) grew 4.2 points to 118.1 in April 2023.

Furthermore, the Current Income Index (CII) and Durable Goods Purchases Index (DGPI) increased by 3.5 points and 2.8 points, respectively, to 123.9 and 107.8.

In addition, the CEI recorded an increase, particularly in the job availability expectations index. The job availability and income expectations indices were recorded at 136.5 and 137.9, respectively, higher than the previous month's 131.1 and 135.8./.

VNA