Roy Morgan: Indonesia's August Consumer Confidence Down Slightly
Based on the latest survey of Roy Morgan Indonesia, the local unit of global market research firm Roy Morgan Research, Indonesia's consumer confidence fell slightly in August 2017 to a reading of 151.7 points (down 0.4 points from the preceding month, which had been the highest reading in more than two years).
Indonesia's August consumer confidence (151.7 points) was also higher than the reading in the same month one year earlier (149.9 points) and significantly higher than the long-term average 2005-2017 (134.4 points). Hence, Indonesia's consumer confidence can be labelled "robust".
However, in the survey, 37 percent of respondents (down 3 percentage points y/y) indicated their families are now "better off" financially than in the same month one year ago, while only 9 percent (also down 3 percentage points y/y) said their families are currently "worse off" financially. Both figures are rather low and this may reflect Indonesia's bleak household consumption (which was partly the reason behind the nation's disappointing 5.01 percent year-on-year economic growth pace in the first two quarters of 2017) as people may decide to opt for saving rather than spending.
Meanwhile, 57 percent (unchanged) of respondents indicated that "now is a good time to buy" major household items. This figure equals the highest figure for this indicator for well over two years, while 39 percent (down 1 percentage point) said "now is a bad time to buy" major household items. These figures show a mixed situation.
Meanwhile, 67 percent (down 3 percentage points y/y) of respondents expect their families to be "better off" financially this time next year, compared to just 5 percent (up 2 percentage points y/y) who expect to be "worse off" financially this month next year. These figures imply that we can label Indonesians "fairly" optimistic about their near-term financial situations.
With regard to the Indonesian economy, now 83 percent of respondents (up 1 percentage point y/y) expect Indonesia to have "good times" financially in the next 12 months, while only 16 percent (down 2 percentage points) said there will be "bad times" financially in the next 12 months. Even more optimism exists with regard to perceptions about the Indonesian economy over the next five years. 92 percent (unchanged) of respondents expect Indonesia to have "good times" economically over the next five years, while only 8 percent (also unchanged) expect "bad times" economically.
Ira Soekirman, Director of Roy Morgan Research Indonesia, commented on the latest data saying "in a turbulent world, Indonesian consumers continue to look to the future with inimitable confidence. Jobs are at the heart of that buoyancy. Visible signs of progress - infrastructure among them - are the pillars of Indonesia's faith in itself. Almost unchanged, consumer confidence in August remained above the 150 mark yet again."
The monthly Roy Morgan Indonesian Consumer Confidence Rating is based on 2,147 face-to-face interviews conducted throughout Indonesia, including the 23 biggest cities as well as smaller cities and towns/villages in the rural areas. Women & men aged at least 14 years were randomly selected during the month of August 2017.
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