India among Asia-Pacific countries with positive consumer confidence: Survey
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According to the latest MasterCard Worldwide Index of Consumer Confidence, consumers across Asia-Pacific were mixed in their assessment on the pace of global economic recovery over the last six months.As the global economy continues its slow recovery, 11 out of the 14 Asia Pacific markets polled (Australia, China, Hong Kong, India, Indonesia, Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore, Taiwan, Thailand, and Vietnam) for the Index recorded positive consumer sentiment with stable optimism recorded in emerging and established markets including China (78.3), Singapore (77.9), Vietnam (77.1), India (75.2), Hong Kong (69.9), Taiwan (67.6), Malaysia (64.9) and Australia (63.1).However, 10 out of the 14 Asia Pacific markets experienced an overall decline in consumer confidence when compared to the previous six months, with three markets – Thailand (46.1), New Zealand (42.2) and Japan (15.9) – showing widespread pessimism across the five key indicators. Overall Asia Pacific recorded a drop in consumer confidence from 68.0 to 61.5.The MasterCard Worldwide Index of Consumer Confidence is based on a survey which measures consumer confidence on prevailing expectations in the market for the next six months based on five economic indicators: Economy, Employment, Stock Market, Regular Income and Quality of Life. The Index score is calculated with zero as the most pessimistic, 100 as most optimistic and 50 as neutral.”While consumer attitudes remain overwhelmingly positive across this Index there is clearly a perception that the recovery from the financial crisis is not going as smoothly as people would like,” said Yuwa Hedrick-Wong, global economic advisor for MasterCard Worldwide. “Consumers are fantastic barometers of economic performance. As parts of the world have endured six very difficult months dealing with natural disasters, political instability and with ongoing financial uncertainty across the Eurozone, it is no surprise to see consumer sentiment declining across some of these markets.”
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