Date
18 January 2017
Rising property prices weighed heavily on consumer confidence in Hong Kong, according to the survey. Photo: HKEJ
Rising property prices weighed heavily on consumer confidence in Hong Kong, according to the survey. Photo: HKEJ

Hong Kong consumer confidence lowest in Greater China

Hong Kong’s consumer confidence index in the first quarter stood at 83.8, the lowest in the Greater China region, with residents most concerned about rising property prices, according to a survey by five universities in mainland China, Hong Kong, Macau and Taiwan.

The survey, in which the Statistical Consulting Unit of the City University of Hong Kong took part, showed that the confidence index for the mainland and Taiwan inched up from the previous quarter, while that for Hong Kong and Macau fell, Ta Kung Pao reported.

The index, with the highest at 200, indicates lack of confidence if it falls below 100. Sub-indices include property, stocks, commodity prices and employment.

For Hong Kong, the sub-index for property was the lowest at 40.5, down 14.9 percent from the previous quarter.

For commodity prices, the sub-index was at 65.8, up 4.6 percent, according to the Hong Kong part of the survey conducted by the City University, which interviewed 1,004 adult residents from March 19 to 28.

Confidence was at 93.4 for stock investment and 93 for economic development.

Hong Kong residents only showed confidence in employment and life conditions, which were at 103.2 and 107 respectively.

Still, the levels were just a little above the 100 threshold, indicating that the residents were not too confident in these two areas, a researcher said.

– Contact us at [email protected]

KZ/AC/CG

EJI Weekly Newsletter