MasterCard today reported the latest MasterCard Index of Consumer Confidence (H2 2014) results for Asia Pacific. Find the press release here.
Overall, consumers in Asia Pacific’s emerging markets remain optimistic despite a slight decline in consumer confidence for the region. This 2.9 Index points decrease comes after the region recorded the highest consumer confidence score in more than 10 years in the previous survey (H1 2014).
All five key economic indicators – economy, employment, regular income prospect, stock market and quality of life – recorded declines.
“The slight drop in Asia Pacific’s consumer confidence reflects an outlook of cautious optimism. Consumers across the region are holding their breath for signs of sustained economic growth and opportunity. Emerging markets Myanmar, India and Indonesia are the most optimistic because of either positive anticipation for a brighter future or excitement around their respective newly-minted governments,” said Pierre Burret, Head of Delivery, Quality & Resource Management for Europe, Asia Pacific, Middle East & Africa, MasterCard Advisors.
“Conversely, the developed markets of Northeast Asia, namely Taiwan, Japan and Hong Kong were much less optimistic in their outlook. In these markets, the wanted signs of long-term growth and opportunity are blocked by Hong Kong’s recent political crisis and Japan’s weakening yen,” Burret added.