Consumer confidence increased in Asia-Pacific in the second quarter of 2013 compared to the first quarter, according to consumer confidence findings from Nielsen.
The Nielsen Global Survey of Consumer Confidence and Spending Intentions measures consumer confidence, major concerns, and spending intentions among more than 29,000 respondents with Internet access in 58 countries.
Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism. In the latest round of the survey, conducted between 13 May and 31 May 31.
Asia-Pacific’s consumer confidence index increased by two points to 105. In key economies, consumer confidence increased three points in the United States (96), increased two points in China (110), increased five points in Japan (78) and remained flat in Germany (90).
Indonesia reported the highest index at 124, a two-point increase over Q1. Portugal reported the lowest index at 33, flat with Q1. Nine of the 58 countries in the survey reported a confidence index above the baseline level of 100.
Asia-Pacific’s seven markets reported indexes above the 100 baseline. In addition to China’s increase, Indonesia (124) and the Philippines (121) reported increases in the second quarter of two and three points, respectively. India (118), Thailand (114), Hong Kong (107), and Malaysia (103) declined two, one, one, and four index point(s), respectively.
On average, discretionary spending intentions for new clothes, holidays/vacations, out-of-home entertainment, and new technology products increased around the world in the second quarter. Forty-seven percent of global respondents saved their spare cash, 19 percent invested and 11 percent saved for retirement. Globally, 14 percent said they had no spare cash, a decrease from 15 percent reported in Q1 2013 and Q2 2012.
According to Nielsen’s survey, respondents in Asia-Pacific reported the most significant quarterly spending increase (up four percentage points) on holidays/vacations (43 percent), new clothes (39 percent), out-of-home entertainment (38 percent) and new technology products (34 percent).
Respondents in Asia-Pacific also saved the most, compared to respondents in other regions, with 61 percent putting money into savings accounts and one-third (32 percent) investing in shares of stocks and mutual funds.