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Trade / Consumers
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2000-03-15 07:12:00-05
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Consumer Confidence up in Asia
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Mastercard survey indicates positive trends, all countries show improvement, the lone exception being the Philippines
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A consumer confidence survey amongst middle and upper income brackets in various Asian countries conducted by Mastercard International shows increased confidence in almost every Asian country, the lone exception being the Philippines. Singapore showed the highest rating with a 92.7% score, followed closely by Malayasia and Indonesia. Record highs in consumer confidence were at record highs in Singapore, Hong Kong (86.1%) and China (75.5%) The survey also showed that consumers in Indonesia and Thailand, the countries most affected by the economic downturn, were feeling more positive than they had felt in years. Indonesia scored 90.3% and Thailand, 72.1%. Mastercard conducts the survey twice a year and noted it would be interesting to see if other Asian nations followed the buoyant lead of Singapore in the next survey. The scores of other Asian-Pacific countries were: South Korea (77.7%), India (70%), Australia (66.3%), New Zealand (66.7%) and the Philippines (43.2%). Filipinos expressed concern about the economy, employment and the quality of life.
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