[PRESS RELEASE] - Indonesian Consumer Confidence Declines Sharply in September
Ipsos Survey: Indonesian Consumer Confidence Declines Sharply in September
Jakarta, 16 October 2025 - Ipsos, a leading global market research company, has released the results of the Global Consumer Confidence Index (GCCI) September 2025, which shows a sharp decline for Indonesia. Indonesian Consumer Confidence Index fell by -5.2 points compared to August 2025 and -9.2 points compared to September 2024, reaching 52.3 points. This decline places Indonesia at 9th globally, down from 3rd position in the previous month, although it remains above the global average (48.0 points). This trend indicates a shift in consumer sentiment, with Indonesians becoming more cautious in assessing economic conditions and their personal finances amid ongoing global uncertainty.
Asian Consumer Optimism Begins to Recalibrate
Across Asia, consumer confidence displayed mixed movements — some countries recorded gains, while others saw notable declines.
India remained the world’s most confident market in September 2025, with a score of 57.0 points, despite a drop of -0.6 points from August and -5.0 points year-on-year.
Singapore, at 54.4 points, decreased by -1.0 point month-on-month and -8.1 points from September 2024.
Malaysia, which had previously shown strong optimism earlier in the year, weakened -5.3 points month-on-month, now at 54.1 points.
Thailand scored 49.8 points, down -2.2 points year-on-year.
Indonesia, at 52.3 points, posted one of the steepest declines in the region.
This trend suggests that while Asia remains home to some of the world’s highest confidence levels — particularly in India, Singapore, and Malaysia — countries like Indonesia are showing signs of recalibration after a prolonged period of optimism.
Indonesian Consumers Turn More Realistic and Selective
Compared to previous months, Indonesian consumers are now demonstrating a more pragmatic view of the economy and becoming more selective in managing expenses. Households are prioritizing essential needs while holding back on non-essential purchases.
This behavior aligns with the higher basic prices, rising cost of living, and uncertainty in employment, prompting families to be more cautious in their financial planning.
Hansal Savla, Managing Director Ipsos Indonesia, said:
“The decline in Indonesia’s consumer confidence index in September is a marked shift in attitude in usually resilient Indonesian consumer. Companies should prioritize understanding the nuanced needs and concerns of consumers during these uncertain times. Reinforcing brand reliability and emphasizing value proposition will be critical. While Indonesians remain cautious, we see opportunities for recovery ahead — especially if policy measures can strengthen purchasing power and further support Indonesia’s journey towards the government’s ambitious 8% GDP growth target.”
Global Landscape: Uneven Recovery Persists
Globally, the Consumer Confidence Index across 30 countries stood at 48.0 points, relatively stable compared to August 2025. However, several major economies continued to show weakening trends:
France fell sharply -7.7 points to 39.9 points, while Germany declined -6.7 points to 47.0 points.
The United States recorded a slight decrease of -2.7 points, scoring 52.4 points, while Japan dropped -2.2 points to 37.3 points.
This disparity highlights that while some economies are showing early signs of recovery, many markets continue to grapple with inflationary pressures, geopolitical uncertainties, and weaker consumer purchasing power.
About the Survey
The Global Consumer Confidence Index is a monthly survey conducted in 30 countries through Ipsos’ Global Advisor online platform and IndiaBus.
The September 2025 wave covered more than 21,700 respondents worldwide, including 500 respondents in Indonesia aged 21–74, representing an urban and digitally connected population.
The index measures consumer perceptions of current economic conditions, personal finances, future expectations, and confidence in making major purchases.
