Indonesian Consumer Confidence jumps 1.6pts to 160.2 in July

Source: Roy Morgan Indonesian Single Source: Indonesians aged 14+ July 2019 (n=1,283). 

Consumer Confidence up most for men and Indonesians aged 50+ from a year ago

Analysing Indonesian Consumer Confidence by gender and age shows increases across the board although significant differences between the genders and between different age groups.

Consumer Confidence for Indonesian Women increased by only 0.5pts from a year ago to 158.1 in July and is now below that for men, which increased by a significant 5.4pts to 162.4.

Analysing by age shows the biggest increase was for older Indonesians aged 50 years and older who now have Consumer Confidence of 156.1, up 6.7pts on a year ago. Despite the increase, the older age group still has the lowest Consumer Confidence.

Consumer Confidence was barely changed for younger Indonesians aged 14-24 years old up by only 0.3pts from a year ago to 160 in July and now just below the national average of 160.2.

Indonesians aged 25-34 years old have had a good year with Consumer Confidence increasing by 6.6pts to 161.4 and this age group of young adults now has the highest Consumer Confidence of any.

Consumer Confidence for their older compatriots aged 35-49 years old has increased by 0.7pts over the past year to 161.3 and remains comfortably above the national average.

Indonesian Consumer Confidence by Gender & Age: July 2018 cf. July 2019

Source: Roy Morgan Indonesian Single Source: Indonesians aged 14+ July 2018 (n=2,138) & July 2019 (n=1,283).

Ira Soekirman, Director, Roy Morgan Indonesia, says:

"In July Indonesian Consumer Confidence increased by 1.6pts to 160.2 driven by more Indonesians saying now is a ‘good time to buy’ major household items up by 3% to 65%. This is the highest figure for this indicator for nearly a year since October 2018.

“However the enduring strength in the index is really the high proportion of Indonesians that are confident about the future prospects for growth of the Indonesian economy. Now 90% of Indonesians expect ‘good times’ for the economy over the next year and a stunning 93% expect ‘good times’ over the next five years.

“These high ratings mean Indonesian Consumer Confidence is nearly 50pts higher than in closest neighbours Australia (112.8) and well over 40pts higher than in New Zealand (116.4).

“Driving the increase over the last year have been men, for whom Consumer Confidence has increased by 5.4pts to 162.4, older Indonesians aged 50+ years old for which Consumer Confidence is up 6.7pts to 156.1 and Indonesians aged 25-34 years old who have the highest Consumer Confidence of any age group at 161.4, up 6.6pts on a year ago.

“Although global trade tensions between the world’s two largest economies the United States and China continue to provide a concerning backdrop the Indonesian economy continues to perform strongly growing by an annual rate of 5% in the June quarter 2019. China is Indonesia’s largest trading partner and the United States is the third largest.

“To get the most out of Roy Morgan’s in-depth research into the trends in the Indonesian economy and society subscribe to the Roy Morgan Indonesian Single Source which is the largest consumer database in Indonesia covering more than 30 industries, 150 product categories and over 1,500 plus brands in the world’s fourth largest country.”

The monthly Roy Morgan Indonesian Consumer Confidence Rating is based on 1,283 in-depth face-to-face interviews conducted in July throughout Indonesia, not just a handful of cities. The survey includes the Top 23 cities, smaller cities and towns as well as many more villages in the rural hinterland, reflecting all of Indonesia.

Consumer Confidence remains very high in Indonesia when compared to Indonesia’s Asia-Pacific neighbours – Australia August 17/18, 2019 – 112.8) and New Zealand (July 2019 – 116.4) and long-term Consumer Confidence trends for the three countries are covered extensively here.