Consumer confidence, retail gross sales get well from Delta impression – Wed, November 10 2021

Consumer confidence and retail sales data point to a recovery from the slump caused by the Delta wave of COVID-19, as eased activity restrictions bode well for household spending ahead of the year-end holiday season.

The consumer confidence index was recorded at 113.4 in October, Bank Indonesia (BI) reported on Monday, marking a return to the optimistic territory above the threshold of 100 points, a level not seen since March 2020. The index plunged to its lowest level in at least 12 years in August.

BI also reported on Tuesday that the retail sales index was estimated to have grown by 5.2 percent year-on-year (yoy) to 193 in October, more than making up for the 2.2 percent annual contraction seen in August.