Confidence high in emerging Asia

13 December 2010

SINGAPORE: Consumers in Vietnam and the Philippines are among the most optimistic in Asia Pacific, new figures show.

Financial services giant MasterCard surveyed adults in 14 regional markets, based on samples of 800 people per country, with the exception of China and India, where the panels were both 400 strong.

Vietnam generated the highest score overall (90.3 points), ahead of Singapore on 86.1 points and the Philippines on 80.1 points.

Ratings in China came in at 79.4 points, Hong Kong posted 74.7 points and India 73 points.

Malaysia, Australia and Taiwan also surpassed 60 points, Indonesia 56.1 points, South Korea 55.7 points and New Zealand 53.3 points.

By contrast, Japan's total was just 20.2 points, indicating considerable pessimism about the current economic outlook.

The regional average stood at 68 points, a two-point increase year-on-year, but a 1.1 point decline from six months ago.

China recorded an annual contraction of 5.9 points, Australia was down 6.5 points, Indonesia 10.9 points and New Zealand 16.4 points.

Australia and South Korea also witnessed negative trends, while Vietnam and Malaysia stayed flat.

More positively, Singapore was up 6.7 points over the same period, an improvement standing at six points in Taiwan and 4.2 points in India.

Elsewhere, figures surged by 14.7 points in Hong Kong, and secured a jump topping 30 points in the Philippines, according to MasterCard.

Data sourced from Wall Street Journal; additional content by Warc staff