Economics
Why Aren't Indonesian Consumers Spending?
- Low unemployment, rising wages haven’t led to higher spending
- Bank Indonesia has cut interest rates eight times since 2016
The Mystery Over Indonesian Spending
This article is for subscribers only.
Almost 4 million new jobs, rising wages and eight interest-rate cuts in Indonesia should have been enough to spur consumers into action in the world’s fourth most populous nation.
Instead, an increasing number of people are keeping a tight grip on their purse strings and putting their money in the bank, leaving policy makers and economists perplexed.