Survey shows sharp rise in consumer confidence

PUBLISHED : Friday, 20 August, 1999, 12:00am
UPDATED : Friday, 20 August, 1999, 12:00am
 

Consumer confidence in Hong Kong improved sharply in the past six months, mirroring the trend in other parts of Asia, according to MasterCard International.


The payment-network operator's latest bi-annual consumer-confidence survey showed Hong Kong's MasterIndex jumped to 51.5 points in June from 14.4 points in December and 13.3 points in June last year.


This rapid score advancement indicated the SAR's consumer confidence had improved from fairly pessimistic to slightly optimistic.


The survey asked 418 respondents to express their perception in the next six months on five economic indicators: employment, general economy, regular income, stock market and quality of life.


The percentage response figures are used to generate the MasterIndex scores on a 100-point scale, with zero denoting the most pessimistic, 50 points denoting neutral stance and 100 points representing full optimism.


MasterCard's general manager for Hong Kong and Macau, Rosaline Tam, said: 'Recovery in the region has been quicker than expected and not as difficult as predicted and this has seemingly helped invigorate consumer confidence.' The view of Hong Kong consumers about the general economy demonstrated the quickest turnaround, with the sub-index score jumping to 64.2 points in June from 15.2 points six months ago.


Twelve other countries in the region demonstrated similar pick-ups in their MasterIndex scores.


The mainland recorded a score of 63.6 points, up from the previous 54.7 points.


ECONOMY

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