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 Economist Louis Lam said:
- ANZ-Roy Morgan Hong Kong Consumer Confidence fell to 134.0 (down 4.2pts from a record high of 138.2 in August) in September. The fall in ANZ-Roy Morgan Hong Kong Consumer Confidence in September was driven mainly by less confidence about family financial situations over the past year and in the next year.
- In terms of personal finances now 38.5% (down 4.1ppts) of respondents in September said their families are ‘better off’ financially than this time last year, compared with 10.8% (up 1.3ppts) that said their families are ‘worse off’ financially.
- Now 43.9% (down 3.9ppts) of respondents expect their families will be ‘better off’ financially this time next year, compared with 10.8% (up 2.5ppts) that expect their families to be ‘worse off’ financially (the highest record for this indicator).
- Thinking of economic conditions in Hong Kong going forward more than half of respondents, 54.6% (down 2.8ppts) expect Hong Kong will have ‘good times’ economically over the next 12 months (lowest level since January 2015), compared with 13.1% (up 2.5ppts) that expect ‘bad times’ economically.
- Now 55% (down 1.2ppts) of respondents expect Hong Kong will have ‘good times’ economically during the next five years and just 14.3% (up 2.2ppts) expect ‘bad times’.
- Also, now 34.5% (down 0.3ppts) of respondents say now is a ‘good time to buy’ major household items in Hong Kong and only 7.2% (up 0.2ppt) say now is a ‘bad time to buy’ major household items.
- Inflation expectations rose to 3.6% (up 0.2ppts) in September.
“ANZ-Roy Morgan Hong Kong Consumer Confidence declined to its lowest level since April this year on the back of slumping stock market. The Hang Seng Index has pared back all the gains in the past twelve months, which likely weighed on sentiments.
"The drop in household’s perception of personal finance is not a good sign for Hong Kong’s retail sales. The city’s retail sales have already had eight consecutive months of contraction due to declining tourist spending due partly to the strength of HKD. Therefore, sustaining household consumption is critical to uphold domestic economic activities. If consumer sentiment continues to slip, Hong Kong’s growth outlook will increasingly face with downside risks.”
Click to view the latest ANZ-Roy Morgan Hong Kong Consumer Confidence Release PDF - September 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.
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