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Financial decision-maker sentiment: Indonesia

An ongoing look at how the attitudes of financial decision makers in Indonesia are evolving during the COVID-19 pandemic.

The vast majority of financial decision makers in Indonesia believe the current economy is neutral, and more than half expect it to be stronger in three months. Despite that, most consumers are concerned or somewhat concerned about their job security, and the majority have indicated decreased household income and savings. Consumers are relatively net neutral on their feelings toward bank performance and would like them to waive late fees and improve their websites to allow for more seamless online transactions. Contactless payments have seen increased usage over the past month, while credit card usage has decreased.

About the author(s)

Shobhit Awasthi is an associate partner in McKinsey’s Singapore office, John Euart is an associate in the New York office, David Hutchinson is a specialist in the New Jersey office, and Sameer Kumar is a partner in the Kuala Lumpur office.

The authors would like to thank Manya Jain for her contributions to this article.

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