Jakarta. Indonesia’s consumer confidence fell sharply in September, reflecting growing caution among households amid global economic uncertainty, according to a new survey by Ipsos, the global market research firm.

The Consumer Confidence Index (CCI) dropped 5.2 points from August 2025 and 9.2 points from a year earlier to 52.3 points, the survey showed. The decline pushed Indonesia down to ninth place globally, from third the previous month, though the country’s score still remained above the global average of 48.0 points.

Ipsos said the shift signals that Indonesian consumers are becoming more cautious in assessing both economic conditions and their personal finances.

Across Asia, confidence levels varied, with some countries maintaining optimism while others saw significant drops:

• India remained the world’s most confident market at 57.0 points, down 0.6 points month-on-month and 5.0 points year-on-year.
• Singapore recorded 54.4 points, slipping 1.0 point from August and 8.1 points compared to September 2024.
• Malaysia, after strong optimism earlier in the year, fell 5.3 points to 54.1 points.
• Thailand scored 49.8 points, down 2.2 points year-on-year.
• Indonesia, at 52.3 points, saw one of the steepest declines in the region.

Ipsos noted that Asia continues to host some of the world’s most confident consumer markets -- particularly India, Singapore, and Malaysia -- but countries like Indonesia are showing signs of recalibration after a long stretch of optimism.

Compared to previous months, Indonesian consumers are now taking a more pragmatic view of the economy, becoming more selective in spending and prioritizing essential needs over discretionary purchases. This shift is linked to rising living costs, higher basic prices, and employment uncertainty, which have prompted many households to tighten their budgets.

“The decline in Indonesia’s consumer confidence index in September is a marked shift in attitude in the usually resilient Indonesian consumer. Companies should prioritize understanding the nuanced needs and concerns of consumers during these uncertain times,” said Hansal Savla, Managing Director of Ipsos Indonesia.

“Reinforcing brand reliability and emphasizing the 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,” he added.

Globally, the Consumer Confidence Index across 30 countries stood at 48.0 points, largely stable compared to August 2025. However, several major economies continued to weaken:

• France dropped 7.7 points to 39.9 points, while Germany fell 6.7 points to 47.0 points.
• The United States slipped 2.7 points to 52.4 points, and Japan declined 2.2 points to 37.3 points.

Ipsos said the mixed results highlight persistent challenges such as inflationary pressures, geopolitical uncertainty, and weakened purchasing power, even as some markets show early signs of stabilization.

The Global Consumer Confidence Index is conducted monthly across 30 countries through Ipsos’ Global Advisor online platform and IndiaBus. The September 2025 survey covered more than 21,700 respondents worldwide, including 500 Indonesians aged 21–74, representing an urban, digitally connected population.