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ANZ-Roy Morgan Hong Kong Consumer Confidence Remains Stable in August
August 25 2015
- Finding No.
Consumer Confidence Press Release
The ANZ-Roy Morgan Hong Kong Consumer Confidence Index is based on interviews with 1,000 people per month and provides a robust, representative sample that is quota-controlled by gender and age.
ANZ’s Senior Economist Raymond Yeung said:
- ANZ-Roy Morgan Hong Kong Consumer Confidence rose to 138.2 (up 0.6pt) in August (the highest level ever recorded). The rise of the index in August was driven by the record high confidence in personal finances compared with a year ago and expectations for the next 12 months.
- In terms of personal finances now 42.6% (up 2.3ppts) of respondents said their families are ‘better off’ financially than this time last year (the highest level ever recorded) compared with 9.5% (up 0.1ppt) that said their families are ‘worse off’ financially.
- In August, 47.8% (up 4.3ppts) of respondents expect their families will be ‘better off’ financially this time next year (the highest level ever recorded) compared with 8.3% (up 0.3ppt) that expect their families to be ‘worse off’ financially.
- Thinking of economic conditions in Hong Kong going forward, 57.4% (up 0.4ppt) expect that Hong Kong will have ‘good times’ economically over the next 12 months, compared with 10.6% (down 1.1ppts) that expect ‘bad times’ economically.
- 56.2% (down 2.9ppts) of respondents expect that Hong Kong will have ‘good times’ economically during the next five years and 12.1% (up 1.2ppts) expect ‘bad times’.
- In August, 34.8% (down 0.4ppt) of respondents say now is a ‘good time to buy’ major household items in Hong Kong and 7% (down 0.1ppt) say now is a ‘bad time to buy’ major household items.
- Inflation expectations were unchanged at 3.4% in August.
“August’s reading may define the peak of the year. As our survey was in the week prior to the fresh round of global market sell-off that began in late last week, market volatility does not bode well for forthcoming releases. In addition, the trend of declining inbound tourists seems to have firmed up on strong HKD against a devaluating RMB, thus August’s retail figures will likely deviate from this release today.
"That said, low unemployment rate and solid property prices will continue to underscore household spending power. The sharp fall of stock market index will unlikely be translated into a collapse of private consumption. We maintain Hong Kong’s GDP growth forecast of 2.1% for 2015.”
Click to view the latest ANZ-Roy Morgan Hong Kong Consumer Confidence Release PDF - August 2015.
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The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more.
You can also view our monitor of Monthly Australian Unemployment & Under-employment Estimates.