Consumer confidence drop in APAC : MasterCard Survey

The MasterCard Worldwide Consumer Confidence Index statistically measures consumer confidence towards the economy, income, stock market, quality of life as well as employment in Asia Pacific. The scaling system is 0 as most pessimistic, 50 neutral and 100 as most optimistic. This is done twice yearly in 13 Asia Pacific Markets.

In the survey, MasterCard found out that optimists in APAC region as a whole, dropped from 69.3 percent in the last quarter of 2007 to 56 percent in the second quarter of 2008. Notable regions are South Korea, Philippines and Thailand with an index score of 23.7 being the most pessimistic.

Primary reason why consumers are greatly affected is because of the unstable financial markets, surging food prices, and credit crunch globally.

Singapore, on the other hand, has the most optimistic attitude for the next six months with an index score of 87.3, followed by HongKong, Vietnam, China, and Taiwan.

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