Update COVID-19 in Indonesia: 365,240 confirmed infections, 12,617 deaths (19 October 2020)
19 October 2020 (closed)
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Despite Indonesia currently experiencing slowing economic growth, Indonesian consumers remain optimistic. According to Nielsen’s latest Consumer Confidence Index, published on Wednesday (20/05), Indonesia was the second most optimistic country (after India) in terms of consumer confidence in the first quarter of 2015. Indonesia collected 123 points through the online survey that not only measures consumer confidence but also the major concerns and spending intentions of consumers.
Economic growth of Indonesia slowed to a five-year low of 4.71 percent (y/y) in Q1-2015 caused by the country’s weak export performance (amid sluggish global economic growth and falling commodity prices), and reduced domestic economic activity (amid the country’s high interest rate environment and sluggish government spending). However, Indonesian consumer confidence in fact improved from the preceding quarter. In Q4-2014, the country’s score was 120 points. A score above 100 signals optimism, while a score below 100 indicates pessimism.
Agus Nurudin, Managing Director Nielsen Indonesia, said that over 84 percent of Indonesian online consumers believe that their financial situation will be good or very good in the next 12 months. Similarly, Indonesians are optimistic about employment opportunities. About 74 percent of survey respondents expect that employment opportunities in Indonesia will improve over the next year.
However, the survey also showed that Indonesian consumers are concerned about the slowing economy giving rise to more criminal activity and health issues. About 23 percent of respondents stated that they believe crimes will increase this year.
Nielsen's Consumer Confidence Index:
| 4. UAE
|7. Saudi Arabia||107|
|10. Hong Kong||106|
Source: Nielsen Company
It is also interesting to note that consumer confidence in Southeast Asia hit a record high in Q1-2015.
The survey was conducted between 23 February and 13 March 2015 using over 30,000 respondents in 60 countries around the globe. Market researcher Nielsen is a global leader in media, marketing, and consumer intelligence.