headline

Bank Indonesia: There Is An Increase In Optimism Regarding The Economic Conditions As Of December 2024

The Consumer Survey conducted by Bank Indonesia (BI) in December 2024 indicates an increase in consumer confidence regarding the economic conditions compared to the previous month. 

"This is reflected in the Consumer Confidence Index (CCI) for December 2024, which stands at 127.7, higher than the index of 125.9 recorded in the prior month," stated Ramdan Denny Prakoso, Executive Director of the Communication Department, in Jakarta on Thursday. 

The rise in consumer confidence in December 2024 is supported by the Current Economic Conditions Index (CECI) and the Consumer Expectations Index (CEI), which are recorded at 116.0 and 139.5, respectively, both higher than the previous month's indices of 113.5 and 138.3. 

BI noted that both the CECI and CEI have increased across all their constituent components. The CECI reflects consumer perceptions of the current economic situation compared to six months ago, while the CEI indicates consumer expectations regarding the economic conditions six months ahead in comparison to the present. 

e increase in the CECI for December 2024 is bolstered by improvements in the current income index, the job availability index, and the durable goods purchase index, which rose from 121.9, 110.1, and 108.4 to 123.9, 112.2, and 111.8, respectively. 

Consumer expectations for the economic conditions six months ahead are anticipated to rise, supported by stronger expectations regarding income, job availability, and business activities, which increased from 141.7, 136.8, and 136.2 to 143.3, 137.6, and 137.4, respectively. 

The BI survey also reported on consumer financial conditions. The average propensity to consume ratio, the debt-to-income ratio, and the saving-to-income ratio for consumers in December 2024 remained relatively stable compared to the previous month, recorded at 74.1 percent, 10.5 percent, and 15.5 percent, respectively. 

Tag: Bank Indonesia Ramdan Denny Prakoso