25 February 2013, Singapore – MasterCard Worldwide Index of Consumer Confidence survey conducted between 7 November to 23 December last year on 11,339 respondents aged 18 to 64 in 25 countries within Asia Pacific, Middle East and Africa indicated that the emerging markets of Indonesia and Philippines remain optimistic despite uncertainty in the global economy. Singapore remains neutral, seeing a small drop in confidence, which indicates cautious sentiment on the outlook for the coming months till June this year.
The MasterCard Worldwide Index of Consumer Confidence is in its 20th year and respondents were asked five questions pertaining to their six month outlook on the economy, employment prospects, the local stock market, their regular income prospects and quality of life.
Extreme improvements were recorded in Indonesia where consumer confidence jumped 30.1 Index points (from 57.4 to 87.5) and the Philippines which rose 13.6 Index points (from 65.2 to 78.8). Both countries are benefiting from rising investment from both domestic and international investors in spite of uncertainty in the global economy and soft global demand for exports from Asia/Pacific.
South Korea showed the largest deterioration in consumer confidence from positive 51.3 Index points to a negative 38.6 Index points. It is facing stiff competition from Japan in markets where their exports of capital goods compete head to head.
Singapore joins most of the Asia Pacific region in being upbeat about income stability – with Singaporeans responding with an optimistic 60.1 Index points when asked if they expect regular income including bonuses and fringe benefits to increase.
Besides the MasterCard Worldwide Index of Consumer Confidence, the payment brand also conducts other research including the MasterCard World Index of Women’s Advancement, Online Shopping, Index of Financial Literacy, and the Index of Global Destination Cities as well as surveys on Ethical Spending and Consumer Purchasing Priorities.