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Wednesday, December 19, 2012

Consumer confidence rises in Indonesia

JAKARTA: Consumer confidence levels have reached a new high in Indonesia, buoyed by the country's relative economic strength, according to a report.

Drawing on interviews with 2,068 consumers across Indonesia, the regular KADIN-Roy Morgan barometer of popular perceptions climbed by 3.9 points month on month in November to 154.5 points.

This constituted a record high since the consumer poll began in 2005, and also marked an increase of 9.3 points on an annual basis, as figures stood at 145.2 points in November 2011.

In keeping with this trend, fully 92% of the panel thought the Asian nation was likely to experience "good times" economically during the coming five years, up four percentage points month on month

Another 82% believed this statement would hold true for the next 12 months, a reading which constituted an improvement of two points compared with the results from October 2012.

Equally, a 67% majority of Indonesians expected their family to be "better off" this time next year, a figure that stayed largely flat, and 42% were more prosperous than at the corresponding point in 2011.

Only 10% felt their family was "worse off" than in the penultimate month of 2011, with most of this group representing the poorest sections of society.

When discussing purchase intent, a 61% majority of interviewees adopted the position that "now is a good time to buy" major household items, also a new peak having grown by three points.

Among the "main income earners" with monthly salaries falling below RP1m ($104), however, this total fell to 34%, indicating that key differences remain within the broadly favourable findings.

"Spare a thought for them, Indonesia's under-privileged, who continue to do it tough each month," said Debnath Guharoy, the regional director for Asia at Roy Morgan research.

"These are the extended families, with multiple earners helping several generations under the same roof eke out an existence. For them, it is never a good time to buy a big-ticket item for the home." 

Data sourced from Jakarta Post; additional content by Warc staff, 19 December 2012

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