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Local consumers have lost even more confidence in the local economy and employment during the third quarter of the year, says the latest consumer confidence survey by the Macau University of Science and Technology (MUST)
Local consumers were more pessimistic about the local economy and employment but were much more confident about housing purchase during the third quarter of the year, the latest Consumer Confidence Index released yesterday by the Macau University of Science and Technology (MUST) reveals.
The survey finds that the consumer confidence index had dropped by 5.09 per cent quarter-on-quarter to 81.57 during the three months. According to MUST, the index is calculated based on six indicators; namely ‘local economy’, ‘employment’, ‘price levels’, ‘living standards’, ‘housing purchase’ and ‘stock investment’.
Index scores below 100 suggest a lack of confidence while scores over 100 imply a degree of positive outlook.
Of the six sub-indices, consumers’ confidence in the local economy dropped significantly by 13.86 per cent to 82.84 from the previous quarter. Compared to the same period of last year, it represents a decrease of 23.87 per cent.
In fact, the surveyor claimed that this is the fourth consecutive quarter that consumers have lost confidence in the local economy. ‘It means that consumers have started to be pessimistic about the local economy rather than being cautiously optimistic,’ the report concluded.
Confidence ebbing
In addition, consumers revealed that they lacked confidence in employment prospects in the city for the first time since the third quarter of 2010. According to the survey, the sub-index declined to 96.87 in the third quarter, a quarter-on-quarter drop of 12.04 per cent or decrease of 22 per cent year-on-year.
Following the local economic downturn, the report indicated that consumers’ confidence in living standards had also dropped, by 3.06 per cent quarter-on-quarter to 93.91, while their confidence in investing in the stock market had plunged14.35 per cent quarter-on-quarter to 78.07.
“This shows that the economic downturn has brought a certain level of pressure to consumers’ lives and they are less willing to invest in the fluctuating market in the quarter,’ MUST said.
Relaxed pressure
On the contrary, consumers are getting more confident about buying property, for which the index surged 17.44 per cent quarter-on-quarter or 64.45 per cent year-on-year.
The survey stated that the surge in confidence showed that the negative sentiment of consumers purchasing properties had been greatly relaxed. Nevertheless, the sub-index still scored lowest overall.
Moreover, consumers were less concerned about inflation during the third quarter, as the sub-index confidence in price levels had jumped 10.47 per cent quarter-on-quarter.
In fact, the report noted that consumers higher education have tended to be more confident since the survey was first conducted in the fourth quarter of 2008. Survey personnel interviewed a total of 1,015 residents aged 18 or above.
Source
Local consumers were more pessimistic about the local economy and employment but were much more confident about housing purchase during the third quarter of the year, the latest Consumer Confidence Index released yesterday by the Macau University of Science and Technology (MUST) reveals.
The survey finds that the consumer confidence index had dropped by 5.09 per cent quarter-on-quarter to 81.57 during the three months. According to MUST, the index is calculated based on six indicators; namely ‘local economy’, ‘employment’, ‘price levels’, ‘living standards’, ‘housing purchase’ and ‘stock investment’.
Index scores below 100 suggest a lack of confidence while scores over 100 imply a degree of positive outlook.
Of the six sub-indices, consumers’ confidence in the local economy dropped significantly by 13.86 per cent to 82.84 from the previous quarter. Compared to the same period of last year, it represents a decrease of 23.87 per cent.
In fact, the surveyor claimed that this is the fourth consecutive quarter that consumers have lost confidence in the local economy. ‘It means that consumers have started to be pessimistic about the local economy rather than being cautiously optimistic,’ the report concluded.
Confidence ebbing
In addition, consumers revealed that they lacked confidence in employment prospects in the city for the first time since the third quarter of 2010. According to the survey, the sub-index declined to 96.87 in the third quarter, a quarter-on-quarter drop of 12.04 per cent or decrease of 22 per cent year-on-year.
Following the local economic downturn, the report indicated that consumers’ confidence in living standards had also dropped, by 3.06 per cent quarter-on-quarter to 93.91, while their confidence in investing in the stock market had plunged14.35 per cent quarter-on-quarter to 78.07.
“This shows that the economic downturn has brought a certain level of pressure to consumers’ lives and they are less willing to invest in the fluctuating market in the quarter,’ MUST said.
Relaxed pressure
On the contrary, consumers are getting more confident about buying property, for which the index surged 17.44 per cent quarter-on-quarter or 64.45 per cent year-on-year.
The survey stated that the surge in confidence showed that the negative sentiment of consumers purchasing properties had been greatly relaxed. Nevertheless, the sub-index still scored lowest overall.
Moreover, consumers were less concerned about inflation during the third quarter, as the sub-index confidence in price levels had jumped 10.47 per cent quarter-on-quarter.
In fact, the report noted that consumers higher education have tended to be more confident since the survey was first conducted in the fourth quarter of 2008. Survey personnel interviewed a total of 1,015 residents aged 18 or above.
Source