Decline in CCI Shows Economic Slowdown in Q1 2023

Economic observer stated that the decline in the consumer confidence index in November 2022 indicated that there would be an economic slowdown.

IDXChannel – Economic observer stated that the decline in the consumer confidence index in November 2022 indicated that there would be an economic slowdown in the first quarter of 2023. This is because, the current decline in the consumer confidence index is accompanied by a decline in the manufacturing index. 

Economic observers said the decline in the consumer confidence index in November 2022 was part of the impact of the increase in fuel process that occurred a few months ago. This is because today’s society prefers to prioritize the purchase of basic commodities rather than household goods. 

For this reason economic observer who is also Director of Center of Economic and Law Studies Bima Yudistira hoped that the government will be able be able to anticipate the impact of the decline in the consumer confidence index which CCAN reduce economic growth in the firs quarter of next year. 

The reason is the decline in the consumer confidence index was in line with the decline in the manufacturing index. 
"The match between the decline in the consumer confidence index and the manufacturing index which was also experiencing a slowdown. This means that there are indications that there will be a slowdown in economic growth. This will especially occur at the beginning of the first quarter of 2023,” Bima said. 

"Watch our show IDX Channel Official Youtube on the Market Headlines Program, Monday (12/12/2022) with the theme Decline in CCI Shows Economic Slowdown in Q1 2023. 

(DKH)