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ANZ-Roy Morgan Hong Kong Consumer Confidence Edged Down in November
November 24 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 edged down to 133.3 (down 3.0pts) in November. Confidence components of the survey dropped across the board this month.
- In terms of personal finances now 37.5% (down 2.2ppts) of respondents said their families are ‘better off’ financially than this time last year, compared with 10.5% (up 0.4ppt) that said their families are ‘worse off’ financially.
- Currently, 42.8% (down 2.4ppts) of respondents expected their families will be ‘better off’ financially this time next year, compared with 9.7% (up 0.7ppt) that expected their families to be ‘worse off’ financially.
- Thinking of economic conditions in Hong Kong going forward, more than half of respondents, 54.6% (down 2.1ppts), expected Hong Kong will have ‘good times’ economically over the next 12 months, compared with 13.1% (up 0.2ppt) that expected ‘bad times’.
- Now 54.1% (down 2.7ppts) of respondents expected Hong Kong will have ‘good times’ economically during the next five years and 13.8% (down 0.1ppt) expected ‘bad times’.
- In November, 32.3% (down 2.9ppts) of respondents said now is a ‘good time to buy’ major household items in Hong Kong and only 7.5% (up 1.5ppts) said now is a ‘bad time to buy’ major household items.
- Inflation expectations eased further to 3.1% (down 0.4ppts) in November.
“The decline of ANZ-Roy Morgan Hong Kong Consumer Confidence is expected, given the poor performance of the stock market. People tend to be increasingly pessimistic about their own financial condition as well as the economic outlook.
"The US Fed is about to increase interest rate in December, indicating a shift of monetary policy regime. Such a change will have a significant implication on global asset prices including Hong Kong’s property prices. Any negative wealth effect may affect domestic consumer confidence subsequently. This is a risk the policymakers need to be aware of.”
Click to view the latest ANZ-Roy Morgan Hong Kong Consumer Confidence Release PDF - November 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.