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Jakarta Post

Consumer surveys paint bleak picture of Indonesia's economy

  • News Desk

    The Jakarta Post

Jakarta   /   Tue, August 13, 2019   /  04:04 pm
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Customers crowd a supermarket in Mampang Prapatan, South Jakarta.(The Jakarta Post/Wendra Ajistyatama)

Confidence among Indonesian consumers is deteriorating, according to recent surveys, as concerns over a lack of jobs mount and secondary spending drops against the backdrop of sluggish domestic economic growth. Bank Indonesia’s Consumer Confidence Index in July dropped for the third consecutive month, with its consumer perception of “availability of jobs” component falling to “pessimistic” territory. Nielsen Indonesia also found that consumer concern about the economy went up sharply to 37 percent in the second quarter from 31 percent in the previous quarter. The central bank’s consumer confidence index dropped to 124.8 in July from 126.4 in June. Although the confidence index stayed in the “optimistic” zone, one of the key components for the Economic Condition Index, “availability of jobs”, fell into “pessimistic&rd...