The latest MasterCard Worldwide Index of Consumer Confidence revealed that Hong Kong's consumers remain cautiously optimistic as they look ahead at the next six months. However, it also shows that respondents in Hong Kong who are below the age of 30 are less optimistic than their older counterparts.

Although experiencing a marginal dip in consumer confidence from the last survey (74.7 vs. 76.6 six months ago), the latest Index scores for Hong Kong are still notably higher than those of a year ago (60.0).

Amongst the Hong Kong respondents, those under the age of 30 are less optimistic about the next six months with an overall Index score of 71.4 than those who are aged 30 and above, with an Index score of 75.9. (a 71.4 score for those below 30 vs 75.9 for those 30 and above). These results mark a dramatic reversal compared to six months ago when the consumer sentiment of younger consumers were notably more positive than the 30 and above group (83.3 for those below 30 vs. 74.4 for those 30 and above).

The MasterCard Worldwide Index of Consumer Confidence releases twice a year. It is based on a survey which measures consumer confidence on prevailing expectations in the market for the next six months based on five economic indicators: Economy, Employment, Stock Market, Regular Income and Quality of Life. The Index score is calculated with zero as the most pessimistic, 100 as most optimistic and 50 as neutral.

The latest survey was conducted from 13 September to 11 November 2010 and involved 10,502 consumers from 24 markets. Data collection was via internet surveys, personal, telephone and Computer Aided Telephone interviews, with the questionnaire translated to the local language wherever appropriate and necessary.

While Hong Kong respondents are slightly less positive in their expectations of Quality of Life (57.7 vs. 61.7 six months ago), Stock Market (74.1 vs. 79.2), Economy (77.9 vs. 83.8), and Employment (80.4 vs. 83.3), respondents seem most optimistic about Regular Income – the Index score shows a significant increase from 75.0 six months ago to 83.2 in this survey. 

"The scores indicate that while consumers in Hong Kong may perceive the worst of the financial crisis as behind them, they are still wary in their outlook for the months ahead," said Jeroen van Son, Head of Hong Kong and Macau, MasterCard Worldwide.

This perception could be in large part due to the uncertainties caused by inflation, the various tightening measures that governments across the globe are implementing, and the general slowdown in growth that the region is seeing post-crisis, he added.

Although China's consumer confidence score (79.4) is lower than that six months ago (83.0) and a year ago (85.3), the regional growth engine continues to be among the top markets in the Asia-Pacific region, behind only Vietnam (90.3), Singapore (86.1) and the Philippines (80.1). The decrease in consumer confidence in China is influenced by lower scores across all five indicators, with the Employment indicator seeing the highest drop in scores (71.2 vs. 79.8 six months ago).