Amid Global Pressures, Indonesia's Spending Accelerates During Eid 2026

JAKARTA, KOMPAS.com - The Mandiri Institute reveals that public spending during Ramadan up to Eid 2026 increased and exceeded the previous two years. This reflects sustained growth in consumer spending amid global dynamics. This is evident from the Mandiri Spending Index (MSI), which grew by 2.9 per cent compared to the pre-Ramadan period, slightly higher than the 2.8 per cent achieved in the same period over the previous two years. Chief Economist of Bank Mandiri, Andry Asmoro, stated that this strengthening of consumption was mainly driven by the middle class group, which recorded the highest spending growth. In fact, the growth rate for this group reached 1.4 to two times higher than other groups, particularly during the holiday allowance (THR) payout period. “The middle class has become the main driver of accelerated spending, especially during the THR period, thus contributing significantly to the overall strengthening of consumption,” said Asmoro in a written statement on Wednesday (15/4/2026). From a demographic perspective, the increase in consumption was also supported by the younger generation. Spending by the Gen Z group grew by 4.4 per cent, higher than millennials at 3 per cent, and Gen X at 1.4 per cent. Meanwhile, in terms of expenditure types, spending growth was dominated by non-essential sectors such as fashion, which grew by 6.4 per cent, followed by beauty care at 4.9 per cent and electronics at 4.7 per cent. “The rise in these categories reflects an increase in public confidence in engaging in discretionary consumption during the Ramadan-Eid 2026 period,” explained Asmoro. Overall, the strengthening of domestic consumption affirms the role of domestic demand as the primary pillar of national economic growth, supported by smooth THR distribution and government policies that maintain purchasing power. Looking ahead, the Bank Mandiri Economic Team views this momentum as a strong foundation for the sustainability of domestic consumption growth. With support from measured fiscal policies and the strengthening of the digital payment ecosystem, the purchasing power of the public, particularly the middle class, is projected to remain stable as the main driver of the national economy amid global economic fluctuations.