Indonesians ‘Second-Most Confident’ in World

http://www.thejakartaglobe.com/business/indonesians-second-most-confident-in-world/383288

Indonesians are the second-most confident people in the world about their job prospects and near-term financial futures, according to a global survey released on Tuesday by media and consumer research company AC Nielsen.

Indonesia rose a point to 116 in the consumer confidence index, second only to India’s 127 and just above Norway’s 115.

About 70 percent of Indonesians polled described their job prospects as excellent or good, well above the 57 percent average for consumers in the Asia-Pacific region, and 77 percent of Indonesians said they were upbeat about their personal finances over the next 12 months.

In addition, 46 percent said they believed now was a good or excellent time to buy things they want and need, an increase from 41 percent six months ago.

“So optimism is growing and all things being equal, this should translate into spending,” said Catherine Eddy, Nielsen’s executive director of consumer research.

And the money will be spent on things other than washing machines and vacuum cleaners.

The survey found that Indonesians plan to indulge themselves by spending more on vacations and new clothes, while the percentage of those using disposable income to pay down debts has slipped to 28 percent from 30 percent in the third quarter of last year.

“It seems Indonesian consumers are gradually loosening their purse strings as we see increases in their intention to spend on what we might call indulgence categories,” Eddy said.

The Nielsen survey, conducted online in March, measured the views of 27,000 people in 55 countries in Asia, Europe, Latin America, North America and the Middle East. In Indonesia, a total of 505 online users participated in the survey.