SAR lags behind with Japan in confidence poll

PUBLISHED : Thursday, 27 August, 1998, 12:00am
UPDATED : Thursday, 27 August, 1998, 12:00am

Consumer confidence in Hong Kong is the second worst in the region, a MasterCard International poll shows.

The latest MasterIndex survey - a twice-yearly poll which measures consumer confidence - saw Hong Kong's score slide to 13.1 in June from 23.3 last December and 60.5 in June last year.

The score is based on five parameters measuring consumer confidence - employment, the economy, regular income, the stock market and quality of life.

It runs on a 100-mark scale with 50 marks denoting no change in consumer confidence. The higher the score, the higher the consumer confidence.

Hong Kong's score of 13.1 is ranked the second lowest in the region after Japan's critical low of 1.1.

The SAR registered minus scores in all five parameters - employment 6.8, economy 9.5, quality of life 6.3, regular income 21.1 and stock market 21.7.

Japan saw its score dive to a low of 1.1 in June from 4.9 in December last year and 26.5 last June.

The mainland and India were the only two economies out of the 13 to have their scores remain above the 50-mark level, indicating consumers there still had some confidence.

The mainland's score fell to 52.1 in June from 60.1 six months ago and 73.6 a year ago.

India saw its score rebound to 51.7 from 34.3 last December, but still lower than the 63.8 recorded a year ago.

MasterCard International's senior vice-president for marketing Jonathan Gould said the level of consumer confidence would not impact significantly on the way the company did its business in the region.