More than half of Indonesians think the country is in recession, but they are still among the most optimistic in the world in terms of personal finances and job prospects, according to a recent Nielsen survey.

Indonesian consumers sit in second place as the most optimistic in the world after India, with bright outlooks on their job prospects, personal finances and spending, according to the survey.

'€œIndonesian consumers see better financial conditions this year,'€ Nielsen Indonesia managing director Agus Nurudin said earlier this week. However, '€œsome Indonesian consumers said the economy is in recession.'€

Sixty percent of respondents considered Indonesia to still be in recession, along with showing downward economic growth in recent quarters.

In the latest development, Indonesia'€™s economy grew 4.7 percent in the first quarter this year, the lowest level of growth in six years.

But more than seven out of 10 Indonesian online consumers believed that job prospects would be good or excellent in the next 12 months.

'€œMost consumers are holding their money to buy new goods as they are waiting for the right time in the coming months,'€ Agus explained.

However, Nielsen found that technology and clothes would become less important for consumers this year, while communication, groceries and financial services were still their priorities.

In the previous quarter, consumers were still looking to upgrade their devices, such as cell phones and computers, but this year consumers were delaying and taking a wait-and-see approach, according to Agus.

This was also because Indonesian consumers still prioritized saving and investment, with 75 percent using their spare cash for savings and 35 percent for investment in shares or mutual funds. Meanwhile, 41 percent used the money for vacations and 28 percent each for new technology products and out-of-home entertainment.

Consumers will most likely spend more money during the fasting month and Idul Fitri, as well as the Christmas holidays.

The survey also said that while the economy remained consumers'€™ top concern, they were growing increasingly concerned about crime, with 23 percent of respondents taking this view, up significantly from 11 percent in the fourth quarter last year.

'€œIt'€™s quite surprising that consumers are worried about crime increasing,'€ Agus said, citing the country'€™s recent trend of violent motorcycle thefts, carried out by gangs of begal, as they are locally known.

The survey was conducted from February to March this year with 502 respondents responding online. (ind)