Indonesia: Consumer Confidence ticked higher in October – UOB
|UOB Group’s Economist Enrico Tanuwidjaja and Junior Economist Agus Santoso comment on the results of Consumer Confidence in Indonesia.
Key Takeaways
Consumer Confidence Index (CCI) improved from 121.7pt in Sep to 124.3 in Oct on the back of improving Current Economic Condition Index (CECI) and Consumer Expectations Index (CEI).
Improvement in consumer confidence was driven by higher job availability index, while current income and purchase of durable goods index continued its declining trajectory.
With the ongoing investment expected to exceed the target in 4Q23, we expect consumer confidence will continue to improve.
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