5.
Likelihood of Making Major Purchases
Compared with the findings from the last quarter, respondents are more careful in making major purchases such as an apartment, a car, major appliances or furniture.
60% of the respondents are now less likely to make major purchases in the next three months as compared to 51% in July. On the other hand, only 14% indicate that they are going to spend more which is nine percentage points down from a peak of 23% in the previous survey. The balance 24% will not change their spending patterns.
Ii is not surprising to find that the upper income group (monthly household income over $15,000) are comparatively more willing to spend more. Nonetheless purchasing intentions have been substantially reduced by 13% points (31% to 18%) among those that are more likely to make major purchases.
Survey Research Hongkong Ltd
(Chart 6)
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