M’sia Q3 online consumer confidence down 9 points: Nielsen
KUALA LUMPUR: Malaysia's online consumer confidence experienced the biggest quarterly decline in the third quarter of 2011 since the third quarter of 2008, dropping nine points to an index of 101.
According to the latest global online consumer confidence findings from Nielsen, the drop in Malaysian consumer optimism echoes the discouraging economic data released during the quarter.
“These include the slower growth in the country's manufacturing output, reflecting the weaker global demand. Economists have also successively lowered gross domestic product (GDP) growth forecasts.
“External factors such as the continuing economic woes in the United States and Europe are also adding to consumer worries in our export-dependent economy,” Nielsen Malaysia managing director Kow Kuan Hua said in a statement today.
Kow said after a few quarters of up-tempo confidence, consumers here are now starting to become more concerned about their job prospects, job security and the unabating inflationary pressures.
The Nielsen Global Online Consumer Confidence Survey, established in 2005, tracks consumer confidence, major concerns and spending intentions among more than 28,000 Internet consumers in 56 countries.
Despite the nine-point drop in confidence level, Malaysia reported the tenth highest consumer confidence index score (along with Norway) among the 56 countries surveyed.
“Almost half (49 per cent) of the online consumers surveyed felt that the nation is in an economic recession.“This is derived from an eight percentage-point increase from three months ago,” Kow said.
The survey also found 24 per cent of respondents projected that the recession would last for another 12 months and 29 per cent of Malaysian online consumers felt that the next 12 months is the right time to purchase items they want and need.
Source : The Star
Date : 31 October 2011
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