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.
- The new ANZ-Roy Morgan Hong Kong Consumer Confidence Index rose to 131.2 (up 2.7pts) in November, reversing the drop in October when student protests broke out.
- Respondents are more confident about their personal financial situation in November than last month, and 38% (up 7ppts) say their families are ‘better off’ financially than the same period last year, while just 9% (down 2ppts) say their families are ‘worse off’ (the lowest level for this indicator since March 2014).
- 40% (up 2ppts) of respondents expect their families will be ‘better off’ financially this time next year, compared with only 8% (unchanged) that expect their families will be ‘worse off’ financially.
- In terms of economic conditions in Hong Kong going forward, 48% of respondents (up 1ppt) expect Hong Kong will have ‘good times’ financially over the next twelve months, while only 15% (down 1ppt) expect ‘bad times’ financially. In addition, 51% (up 1ppt) of respondents expect Hong Kong will have ‘good times’ financially during the next five years and 15% (down 1ppt) expect ‘bad times’.
- Inflation expectations from respondents inched down 0.1ppt to 4.1% in November.
The 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 Senior Economist Raymond Yeung said:
“After the negative impact of street protests on community sentiment, the launch of Shanghai-Hong Kong Stock Connect seems to have provided a timely reassurance in the outlook of households– particularly regarding their personal finances.
"Given the community’s large exposure to stock and property markets, preserving household wealth is crucial to upholding consumer sentiment.
"Our survey results reveal the significance of China’s ongoing reform to Hong Kong’s economy. With the successful launch of Stock Connect, it shows that the central government would stick to its overall policy to maintain “Hong Kong’s stability and prosperity” and support the development of the offshore RMB market.
Given that private consumption represents two thirds of Hong Kong’s GDP, we need to gauge consumer confidence closely. This ANZ-Roy Morgan Index has done and will do this job.”
Click to view the latest ANZ-Roy Morgan Hong Kong Consumer Confidence Release PDF - November 2014.
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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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