Consumer Confidence: Concerns and Spending Intentions in Hong Kong
Hong Kong’s consumer confidence index increased six points in Q1 to 111 — the highest score since 2008. In the latest round of the survey, conducted February 17 – March 7, 2014, global consumer confidence returned to pre-recession levels with an index score of 96 in the first quarter of 2014—the highest score since Q1 2007. Hong Kong’s consumer confidence score is 15 points higher than the global average. Within the region, consumer confidence in Hong Kong is higher than that in Singapore (99) and Taiwan (76), and even with China (111).
Positive perceptions about local job prospects over the next 12 months increased in the first quarter in Hong Kong. Two-out-of-three respondents (63%) believed the job market would be good or excellent in the upcoming year, a quarterly increase of 6 points.
According to Nielsen’s survey, 65 percent of respondents reported a better outlook on their personal finances over the next 12 months, a 6-point increase compared to last quarter. Spending intentions of Hong Kong respondents also increased, up 3 points to 53 percent.