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  • TheSun 2008-11-13 Page25 Asian Consumers Increasingly Pessimistic

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    Only four of the 14 markets surveyed are optimistic about the first half of next year. The overall index was at 47.4, down from 55. In the last survey and 67. A year ago. A separate analysis of purchasing priorities found 70% of the region's consumers looking to reduce discretionary spending for the next 12 months.

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    Only four of the 14 markets surveyed are optimistic about the first half of next year. The overall index was at 47.4, down from 55. In the last survey and 67. A year ago. A separate analysis of purchasing priorities found 70% of the region's consumers looking to reduce discretionary spending for the next 12 months.

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    4 views1 page

    TheSun 2008-11-13 Page25 Asian Consumers Increasingly Pessimistic

    Uploaded by

    Impulsive collector
    Only four of the 14 markets surveyed are optimistic about the first half of next year. The overall index was at 47.4, down from 55. In the last survey and 67. A year ago. A separate analysis of purchasing priorities found 70% of the region's consumers looking to reduce discretionary spending for the next 12 months.

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    theSun | THURSDAY NOVEMBER 13 2008 25

    business news

    ‘Asian consumers increasingly pessimistic’


    SINGAPORE: Consumer MasterCard said only Vietnam, ago, MasterCard said.
    confidence across the Asia Pacific China, India and Singapore were “Consumers are also tightening
    region has turned increasingly optimistic about the first half of next their belts,” the company said,
    pessimistic and most people plan year. reporting that a separate analysis of
    to cut back on dining and other Confidence fell most heavily in purchasing priorities found 70% of
    discretionary expenses, a survey Hongkong – to 41.8 from 83.1 six the region’s consumers looking to
    said yesterday. months ago – and in Taiwan, where reduce discretionary spending for
    Only four of the 14 markets the index fell to 32.1 from 71.3. the next 12 months. Tapping
    surveyed are optimistic about “Consumers across the region to their
    the first half of next year, the “Consumers across are bracing themselves for tougher rhythm
    twice-yearly MasterCard Worldwide the region are bracing times ahead in 2009,” said Yuwa
    Index of Consumer Confidence Hedrick-Wong, Asia-Pacific pg 27
    found. themselves for tougher times economic adviser for MasterCard
    It blamed the souring mood on ahead in 2009.” Worldwide.
    economic volatility and concerns – Yuwa Hedrick-Wong The company said it surveyed
    over a global recession. 6,019 consumers during September.
    The Index of Consumer The overall index was at 47.4, The Index of Consumer
    Confidence, derived from a survey, down from 55.0 in the last survey Confidence measures consumers’
    measures consumer confidence on and 67.3 a year ago but still above outlook towards employment, the
    a scale from zero to 100, with 100 the average of 32.3 recorded during economy, regular income, the stock
    being most optimistic. Asia’s financial crisis of a decade market and quality of life. – AFP

    US automaker Ford asks


    German govt for help
    BERLIN: The US automaker Ford has government for tax measures that would
    asked Berlin for aid but the government boost the sale of new cars, but neither has
    is divided on the question of how to help received a reponse yet, the report said.
    Germany’s key but troubled industrial sec- The head of Audi, the high-end line
    tor, a press report said yesterday. made by the Volkswagen group, said he
    After General Motor’s German subsidi- favoured a “junkyard bonus” to encourage
    ary Opel, a second US group implanted in households to get rid of older cars, in an
    Germany has thus turned to Chancellor interview with the Frankfurter Allgemeine
    Angela Merkel for aid. Zeitung daily yesterday.
    “We sent a letter on the same day as Rudolf Stadler also said he was
    Opel,” a Ford spokesman told the Sued- concerned that competition could be
    deutsche Zeiting newspaper. distorted if US car makers got help from
    Both auto makers have pressed the Washington. – AFP

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