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indonesian consumers’ optimism slightly declined in Q3 2019

  • Indonesia inched down a spot to the 4th most confident country globally
  • Consumers’ Concern on Political Stability had significantly decreased

Jakarta, 20 November, 2019  – Despite being slightly lower than the previous quarter, Indonesia’s Consumer Confidence Index (CCI) in Q3 2019 is still in a stable level with an index score of 123 percentage points (pp) – down 3 points compared to Q2 2019, according to the latest issue of The Conference Board® Global Consumer Confidence™ Survey, in collaboration with Nielsen, a global information and measurement company.

The downtrend was due to decreased positivity on the three indicators that  affect CCI. Indonesian consumers’ sentiment towards two indicators namely Personal Financial State and Readiness To Spend for the next 12 months was four points  less positive to 76% and 57% respectively, compared to the previous quarter. The positivity on Job Prospects went down only very slightly from 70% in Q2 2019 to 69% in Q3 2019. Globally, Indonesia inched down a spot to the fourth most confident country, surpassed by Vietnam which CCI was 128 – increased 5 points from that of Q2 2019.

Consumers in Asia-Pacific remain among the most confident globally, but differences across countries have increased. Consumers in the largest emerging markets (China, India and Indonesia) are very positive, despite experiencing some softening in confidence. Other markets, including South Korea, Thailand and Singapore, experienced declines in confidence levels. Hong Kong saw the largest decline across all regions, the result of political unrest in this market.

Despite the slight decline in CCI, the recessionary sentiment improved in this quarter. In Q2 2019, there were 57% consumers who perceived that the country is in an economic recession, and in the following quarter, the percentage went down to 52%. 

Indonesians continued to rank The Economy (37%) and Work Life Balance (20%) as their top two key concerns.  Significant changes occurred in this quarter, where the concern on Political Stability drastically went down from 26% in Q2 2019 to 14% in Q3 2019. On the other hand, concerns on Health and Global Warming had increased quite significantly. 16% of the consumers surveyed had concern on Health (increased 8% from the previous quarter) and 17% were concerned about the Global Warming (increased 5% from the previous quarter).

“In Q3 2019, Indonesian consumers’ concern on Political Stability went down very significantly. This is a relief as indicates that consumers have left behind all the hustle with the last Presidential Election.” said Agus Nurudin, Managing Director, Nielsen Indonesia. “On the other hand, concerns about Health and Global Warming had increased. We observe that the increased concern of Health was strongly influenced by the news of government’s plan to raise the BPJS premium; while the long dry season plus the continuous forest and land fires had made more consumers even more concerned about the effect of Global Warming.” There were significantly less consumers who used their spare cash on Savings (61%) in Q3 2019, compared to that of Q2 2019 with 67% . There were also less consumers who saved on gas & electricity, out-of-home entertainment and replacement of major household items in Q3 2019.

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The Conference Board® Global Consumer Confidence Survey is conducted in collaboration with Nielsen. It was conducted in September 2019 and polled more than 32,000 online consumers in 64 countries throughout Asia-Pacific, Europe, Latin America, the Middle East/Africa and North America. The sample includes internet users who agreed to participate in this survey and has quotas based on age and sex for each country. It is weighted to be representative of internet consumers by country. Because the sample is based on those who agreed to participate, no estimates of theoretical sampling error can be calculated. However, a probability sample of equivalent size would have a margin of error of ±0.6% at the global level. This survey is based only on the behavior of respondents with online access. Internet penetration rates vary by country.

The Conference Board uses a minimum reporting standard of 60% internet penetration or an online population of 10 million for survey inclusion. The Nielsen China Consumer Confidence Index is sourced from a separate survey conducted by Nielsen China, which is based on a mixed methodology survey of more than 3,000 respondents in China. The Global Consumer Confidence Survey was established in 2005.

The Global Consumer Confidence Index Highlights, full report and technical notes to this series are available on The Conference Board website.

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