Indonesia Consumer Sentiment Little Changed

Indonesia’s consumer confidence index fell to 120.9 in May 2026 from 123 in the previous month, marking its lowest level since September 2025. The moderation was largely driven by weaker assessments of current economic conditions, which fell by 4.3 points to 112.2. Sentiment toward durable goods purchases also declined by 4.3 points to 108.3, while perceptions of job availability over the past six months fell by 3.8 points to 105. Moreover, expectations for income over the next six months eased by 0.4 points to 136.5. In contrast, expectations regarding job availability and business activity improved marginally, with both indices rising by 0.4 points to 128.1 and 124.5, respectively. Despite the decline, overall consumer sentiment remained firmly in optimistic territory, indicating continued confidence in the economic outlook.

Indonesia’s consumer confidence index stood at 123.0 in April 2026, barely above March’s 122.9 and still near a five-month low. Perceptions of current economic conditions improved slightly, with the sub-index rising 1.1 points to 116.5. Sentiment on job availability over the past six months strengthened 1.0 point to 108.8, while views on purchasing durable goods jumped 3.4 points to 112.6. Meanwhile, forward-looking gauges softened. Current income sentiment slipped 1.1 points to 126.1, while expectations for income over the next six months eased 0.8 points to 136.9. Views on job prospects in the coming half-year edged down 0.3 points to 127.7, and expectations for business activity fell 1.4 points to 124.1.

Indonesia's consumer confidence dropped to 122.9 in March 2026 from 125.2 in the previous month, marking the lowest reading since last October. The decline came as most sub-indexes deteriorated: the economic outlook fell 4.0 points to 130.4, while income expectations for the next six months also declined by 3.0 points to 137.7. Meanwhile, expectations for job availability over the next six months fell by 3.7 points to 128.0. The index for purchasing durable goods compared with six months ago also dropped by 2.8 points to 109.2. Job availability compared with six months ago was down by 2.9 points to 107.8, while perceptions of current economic conditions deteriorated slightly, declining 0.5 points to 115.4. By contrast, views of current income levels rose 4.2 points to 129.2.