Consumer Confidence Index by MasterCard
Most Consumers in APAC Feeling More Confident and Optimistic
MasterCard released the latest findings of its Index of Consumer Confidence for H1 2014, which finds that consumers in Asia Pacific largely remain optimistic on their economic outlook, despite continued uncertainty in the global economy, with the exception of Australia.
The Index is built from consumer responses to questions on their six-month outlook around five economic factors including the economy, employment prospects, regular income prospects and their quality of life. Scores are then indexed on a scale of 0 to 100 with a higher score indicating greater confidence / optimism levels.
Overall for Asia Pacific:
– Collectively, Asia Pacific markets are optimistic – recording the highest consumer confidence score in more than 10 years. The region is up 6.9 Index points to 68.3 Index points in H1 2014.
– Compared to 6 months ago, 12 out of 16 Asia Pacific markets surveyed recorded positive sentiment and experienced significant improvement in consumer confidence.
– Bangladesh recorded the biggest uptake in consumer confidence, jumping a whopping 25.9 Index points to 66.4 Index points in H1 2014.
– Taiwan’s consumer confidence also grew by a large percentage, up 24.6 to 57.6 Index points.
– Other significant, double-digit improvements in consumer confidence were recorded by Thailand up 14.6 Index points; Indonesia up 11.3 Index points and New Zealand up 10.8 Index points.
– Myanmar, Indonesia and India recorded the Asia Pacific region’s highest consumer confidence scores, with 94.1 Index points, 94.0 Index points and 89.1 Index points, respectively.