Bank Indonesia (BI) reported that the consumer confidence index (IKK) in October 2024 was at 121.1 or decreased compared to IKK data in last September which was at 123.5. Executive Director of the BI Communications Department, Ramdan Denny Prakoso, said that the IKK achievement was still in the optimistic area, namely above 100.
“Consumer confidence maintained in October 2024 comes from consumer confidence in current economic conditions,” he said in an official statement, Monday (11/11).
The increase in IKK, said Denny, was recorded by respondents with expenditures of IDR 1-2 million. Based on age, IKK increases in the 20-30 year age group. Spatially, IKK increased in some of the cities surveyed, the highest in Bandar Lampung City, followed by Banjarmasin and Mataram.
Furthermore, Denny said that the Current Economic Conditions Index (IKE) and Consumer Expectations Index (IEK) in October 2024 were recorded at 109.9 and 132.4 respectively. This figure also fell compared to the achievements in September 2024, which recorded IKE and IEK at levels 113.9 and 133.1 respectively. IKE is supported by the current income index, employment availability index, and durable goods purchase index (durable goods) which are 117.9, 104.7, and 107.0 respectively. Respondents’ optimism regarding current income is indicated to remain strong across all expenditure and age groups. The highest index was recorded in respondents with expenditures under IDR 5 million and the age group 20-30 years.
Consumer confidence in making purchases durable goods said to be still awake. In terms of expenditure, the index increased in the expenditure group of IDR 1-2 million. Based on age group, the highest index was recorded in the 20-30 year age group.
Denny also explained that in October 2024, the average proportion of consumer income for consumption (average propensity to consume ratio) recorded a slight increase compared to the previous month, namely from 74.1% to 74.5%. Meanwhile, the proportion of installment/debt payments (debt to income ratio) is indicated to be relatively stable at 10.5%. Proportion of consumer income saved (saving to income ratio) recorded a slight decrease compared to the proportion in the previous month from 15.3% to 15.0%. (D-3)
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