[ 11-11-2014 ]
Malaysian Consumer Confidence Up In Q3: Nielsen
KUALA LUMPUR, Nov 10 (Bernama) -- Malaysia's consumer confidence index rose six points to 99 in the third quarter (Q3) of this year, according to the latest Nielsen Global Survey of Consumer Confidence and Spending Intentions.
Nielsen said Malaysia is now ranked at 18th place as the most confident country globally, while global consumer confidence remained steady at 98 points compared to the previous quarter's 97 points.
The survey involved 30,000 respondents with Internet access in 60 countries. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism, respectively.
In a statement today, Nielsen Malaysia Country Manager Richard Hall said the aviation disasters and global economic downturns had prompted an upbeat attitude among Malaysians.
"We are now seeing consumers refocusing on family matters and become less concerned with the economic future of the country and their personal financial future.
"Although this is a positive trend, Malaysian consumers continue to remain vigilant of their on-going and future spending habits and are constantly mindful of the fragile state of the global economy," he added.
Among the key findings in the survey, the percentage points of the Malaysian consumers' key concerns towards the economy, increasing food prices and job security had decreased slightly in the third quarter compared to previous quarter.
"Some 33 per cent of Malaysians cited the economy as their main concern (down four points), 19 per cent are worried about increasing food prices (down two points), while 17 per cent are concerned about work/life balance(down one point)," said the survey.
The Nielsen's survey also showed that four in five (79 per cent compared to 65 per cent globally) of Malaysian consumers have adjusted their spending habits in the past year to increase household savings.
It added the Malaysian consumers would continue to reduce household spending even when economic conditions improve in order to increase savings.
In the region, Indonesian consumers are the second most confident globally with the consumer confidence score rising two points to 125, Philippines (115), Thailand (113), Singapore (103) and Vietnam (102).