Cci

The Asian Consumer Confidence Index Quarter 2 2011
China Indonesia Malaysia Singapore Thailand Vietnam
Content
Consumer confidence Overview Asia 3 4
China
Indonesia Malaysia Singapore Thailand Vietnam Research specifications InsightAsia contact information
8
13 18 23 28 33 38 39
Consumer Confidence
In most developed economies, consumer confidence index is an important indicator used by governments for policy development, by corporations in strategic planning and by financial institutions in market analysis and forecasting. Economic growth and decline are clearly influenced by the changes in consumer confidence. In times of economic downturn, consumers often become pessimistic and spend less, thus worsening the recession. In the same way, consumers boost economic growth when they are optimistic about the economic prospects. For several years, the fast growing economies of Southeast Asia and China have been in need of a comprehensive and comparative measurement of consumer confidence. To address this need, InsightAsia presents The Asian Consumer Confidence Index. Published quarterly, it is designed to assist policy makers in assessing the economic and social impact of policy decisions, and for senior executives in performance tracking, market planning and benchmarking. Given the importance of consumer confidence in economic growth, we believe this is a key benchmarking tool for decision makers. In this issue, InsightAsia presents The Asian Consumer Confidence Index of Quarter 2 2011. The quarterly reports can be downloaded from www.insightasia.com.
Overview Asia
Consumer confidence around the region has not changed much in Quarter 2 as economic growth is stable. Consumers in Singapore are still the most upbeat of the region, followed by consumers in China and Vietnam, who are mildly positive about economic circumstances. Malaysian consumers remain neutral and Indonesia also approaches the neutral level after a 7 point increase. Thai consumers remain pessimistic as political instability continued before the general election. All economies in the survey have overcome the global recession and demonstrated strong GDP growth in 2010. Though forecasts for the region are optimistic, challenges exist that threaten growth. Exports growth to Western economies is slowing down, due to various problems in the economies of the US and the euro zone. In domestic markets inflation is accelerating and rising prices of food and energy become a burden to consumers. Foreign exchange volatility and weak recovery in Japan are additional uncertainties. Monetary policy makers face important decisions to keep the region on the path to greater prosperity.
Consumer Confidence Index by country Q2 2011
200
111
100
122
97 103
107 72
0
Consumer Confidence Index by country Q2 minus Q1 2011
50
1
0
1 -2
-50
Current Economy
Do you think that the present state of the economy is better or worse than it was a year ago? Q2 2011
Future economy
Do you think that during the next 12 months the economy will be better or worse off, or just about the same as now? Q2 2011
200
200
120
131 96
99
100
138 118 115
131 95
116
100
74
48
0
0
Q2 minus Q1 2011
Q2 minus Q1 2011
50
50
19 8
0 0
10 -2
16
-8
-8
-5
-15
-6
-5
-2
-50
-50
Current Financial Well-being

Overall, how satisfied are you with the current status of your financial well-being? Q2 2011
Future Financial Well-being

200
200
149
131
100
88
97
111 82
111
100
115
117
130 97
121
0
0
Q2 minus Q1 2011
Q2 minus Q1 2011
50
50
8
0
1 -2 -7
9
0
5 -6 -3
12
-50
-50
Retail expenditure
200
96
100
75
88
39
89
44
0
Q2 minus Q1 2011
50
18 8
0
12 1 -6
-50
China
Economic Background China

China is the second largest economy in the world. At a growth rate of around 10% per year over the last two decades, it consistently outperforms other major global economies. China coped well with the global recession and resumed economic growth figures close to 10% in 2010. The Chinese government is implementing measures to transform its exports driven economy into a domestic demand driven economy, and faces the challenge of maintaining strong growth while restraining inflation, debts and the housing bubble. Inflation rose to a three year high of 6.4% in June, illustrating that further structural economic growth will have to be managed carefully.
Despite these threats to sustained healthy growth, GDP grew 9.5% year-on-year in the first half of 2011. The IMF recently commented positively on the development of the Chinese economy: Chinas near-term growth prospects continue to be vigorous and are increasingly self-sustained, underpinned by structural adjustment. We continue to see China as a bright spot in global growth.
China
Consumer Confidence China

The consumer confidence index of China has been relatively stable since the beginning of 2009. Consumers got somewhat excited at the end of 2009, when the Chinese economy showed strong resilience against the global recession, and settled to a moderately positive outlook on economic circumstances in 2010.
Chinese consumers are positive about the development of the economy and are confident about its future. They are somewhat dissatisfied with their current financial well-being, but moderately optimistic that this will improve in the next 12 months. In contrast to most other countries in the survey, Chinese consumers are not negative about doing major purchases.
Consumer Confidence Index

200
Maximum
123111 122 125 114 117 113 110 111

100
Neutral
Minimum
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
2009
2010
2011
Q2 minus Q1 2011
200
115 88
100
120 96
138
0
Current status of financial well-being Outlook of Time to buy Current financial major economy well-being household compared items to last year Economy next 12 months compared to now
China
Current Economy
200
Maximum
Future Economy
200
Maximum
136 114
100
Neutral
152
131 136 127 128
99
120
100
136
Neutral
114
153 158 147 148 143 143 138
Minimum
0 Q3 Q4 Q1 2010 Q2 Q3 Q4 Q1 2011 Q2
Minimum
Q2 2009
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
2009
2010
2011
Q2 minus Q1 2011
Q2 minus Q1 2011
50% 40%
40% 27%
50%
43%
40%
30%
30%
20% 10% 0%
Dont Know Much Worse Somewhat Worse Neutral Somewhat Better Much Better
23% 15% 8%
14% 4%
6%
20%
8%
10% 0%
6%
5%
Dont Know
Much Worse
Somewhat Worse
Neutral
Somewhat Better
Much Better
10
China
200
Maximum

200
Maximum
121107
100
Neutral
131124 97
94 88
119 121 110 113 113 111 115
90 90
80
88
100
Neutral
Minimum
Minimum
Q2 2009
Q3
Q4
Q1 2010
Q2
Q3
Q4
Q1 2011
Q2
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
2009
2010
2011
Q2 minus Q1 2011
Q2 minus Q1 2011
47%
50% 50%
42%
32%
40%
30%
40%
30%
17%
20%
10%
18% 13% 5%
20%
9%
8%
9%
10%
0%
0%
Very Somewhat Dissatisfied Dissatisfied Neutral Somewhat Satisfied Very Satisfied
Very Pessimistic
Somewhat Pessimistic
Neutral
Somewhat Optimistic
Very Optimistic
11
China
Retail expenditure
200
Maximum
112108
100
Neutral
104 100 95
98 92
88
96
Minimum
Q2 2009
Q3
Q4
Q1 2010
Q2
Q3
Q4
Q1 2011
Q2
Q2 minus Q1 2011
58%
60%
50% 40% 30%

20% 10% 0% Very Bad Time Somewhat Bad Time Neutral Somewhat Good Time Very Good Time
9%
13%
15% 5%
12
Indonesia
Economic Background Indonesia

The Indonesian economy is on the rise. A relatively low dependence on exports limited its vulnerability to the global crisis and since the low point of the downturn the economy has built momentum. GDP growth registered at 6.1% in 2010 and forecasts for 2011 and 2012 are 6.5%. Due to the positive prospects of the Indonesian economy and the ongoing struggle of Western economies, foreign investment keeps flowing in and fuels future growth. The government has formulated the ambitious Master Plan for the Acceleration and Expansion of Indonesian Economic Growth, which aims at a place in the top 10 of largest economies in the world by 2025. To achieve the economic potential of the 320 million population the government is working on reforms and improvements. Recently the World Bank warned that although the fundaments are strong, infrastructure and corruption are bottlenecks to future growth.
13
Indonesia
Consumer Confidence Indonesia

Consumer confidence in Indonesia is stable, reflecting the stability of economic circumstances in the country. The Index has not deviated far from the neutral point since the start of 2009. Despite continued positive GDP growth consumers feel that their economy is going downhill. In Quarter 2 43% believed the economy is in a worse state than a year earlier and 19% feels the economy has improved. Indonesians are mildly optimistic about the future of the economy. The perception of financial well-being was negative in 2009 and has improved since. In Quarter 2 Indonesians feel neutral about current financial well-being and are very optimistic about the future, as 69% expects an improvement. The attitude towards buying major household items is negative. 75% of consumers thinks it is not a good time, a perception that has not changed during the past two and a half years.

200
Maximum
100
Neutral
83
97 105 89 94
93 100 97 90 97
Minimum
Q1
2009
Q2
Q3
Q4
Q1
2010
Q2
Q3
Q4
Q1
2011
Q2
Q2 minus Q1 2011
200
149 97
118 74
100
44
Current status of financial well-being
Outlook of Time to buy Current financial major economy well-being household compared items to last year
Economy next 12 months compared to now
14
Indonesia
Current Economy
200
Maximum
Future Economy
200
Maximum
142 128
100
Neutral
103 94
74
72 67
77 79
72
74 55
100
Neutral
108
123 121 115 110 118 111 101
Minimum
Minimum
Q1
2009
Q2
Q3
Q4
Q1
2010
Q2
Q3
Q4
Q1
2011
Q2
Q1 2009
Q2
Q3
Q4
Q1 2010
Q2
Q3
Q4
Q1 2011
Q2
Q2 minus Q1 2011
Q2 minus Q1 2011
47%
50%
50%
38%
40% 30% 40%
20%
23% 15%
30% 20%
24% 9%
4%
20%
10% 0%
Dont Know Much Worse Somewhat Worse Neutral
1%
Somewhat Better
4%
Much Better
10% 0%
Dont Know
6%
9%
Much Worse
Somewhat Worse
Neutral
Somewhat Better
Much Better
15
Indonesia
200
Maximum

200
Maximum
154
89 96 94 106 105 104 97
125 126
100
Neutral
149 150 144 149 138145 143
100
Neutral
71 78
89
Minimum
0
Q3 Q4 Q1 2010 Q2 Q3 Q4 Q1 2011 Q2
Minimum
Q1 2009
Q2
Q1 2009
Q2
Q3
Q4
Q1 2010
Q2
Q3
Q4
Q1 2011
Q2
Q2 minus Q1 2011
Q2 minus Q1 2011
50%
60%
55%
40%
30%
28%
31%
31%
50% 40% 30%
22%
14%
20%
7%
10%
20%
3%
8% 1%
Very Pessimistic Somewhat Pessimistic Neutral Somewhat Optimistic Very Optimistic
10% 0%
0%
16
Indonesia
Retail expenditure
200
Maximum
100
Neutral
40
0
52 45
43 39
39 42
43 37 44
Minimum
Q1 2009
Q2
Q3
Q4
Q1 2010
Q2
Q3
Q4
Q1 2011
Q2
Q2 minus Q1 2011
57%
60% 50% 40% 30% 20%
18%
17%
9% 0%
10% 0%
Very Bad Time Somewhat Bad Time Neutral Somewhat Good Time
Very Good Time
17
Malaysia
Overview Malaysia
Malaysia is an open, export driven economy and therefore suffered heavily from the global recession. The Malaysian economy was growing strongly before the global recession set in and GDP growth dropped to minus 1.7% in 2009. The economy bounced back in 2010 and achieved 7.2% growth. The forecast for 2011 by the Malaysian Institute of Economic Research is 5.2% growth. Though this forecast has not been adjusted yet, growth has come under pressure in the second quarter. While private consumption keeps increasing, growth of exports is diminishing. As the Malaysian economy remains strongly dependent on global economic developments, the ongoing struggle of Western economies puts Malaysian growth at risk. Rising inflation adds to the uncertainties that are currently facing the Malaysian economy.
18
Malaysia
Consumer Confidence Malaysia

Consumers in Malaysia have lost the positive perception of economic circumstances they had in 2010, as the Consumer Confidence Index dropped to just above the neutral level in 2011. When the Malaysian economy bounced back from the recession consumers acknowledged this by indicating the economy was in a better state in 2010 than a year earlier. Now that the economy has stabilized the overall opinion is that the state of the economy has not changed in the past 12 months. However Malaysians express optimism about economic development in the coming year. The perception of personal financial well-being follows the pattern of the perception of the economy. In 2010, when the economy was growing strongly, consumers were satisfied with financial well-being. In 2011 their stance is neutral. Optimism about the future has waned somewhat, but is still positive. Malaysians do not consider it a good time to do major purchases, but are less negative than during the recession.

200
Maximum
100
Neutral
83
94 96
125 118 113 122 112
102 103
Minimum
Q1 2009
Q2
Q3
Q4
Q1 2010
Q2
Q3
Q4
Q1 2011
Q2
Q2 minus Q1 2011
200
111
100
117
75
96
115
19
Malaysia
Current Economy
200
Maximum
Future Economy
200
Maximum
126 120 125 111 110

100
Neutral
71
45
0
Minimum
80
104 96
110
100
Neutral
128130
142144
130123
146 117 115
0 Q3 Q4 Q1 2010 Q2 Q3 Q4 Q1 2011 Q2
Minimum
Q1 2009
Q2
Q1
2009
Q2
Q3
Q4
Q1
2010
Q2
Q3
Q4
Q1
2011
Q2
Q2 minus Q1 2011
Q2 minus Q1 2011
50%
40% 30% 20%
50%
40%
36%
29%
20% 14% 24%
30%
20%
24%
9% 12% 12%
10% 0%
5%
9%
10%
7%
0%
Dont Know
Much Worse
Somewhat Worse
Neutral
Somewhat Better
Much Better
20
Malaysia
200
Maximum

200
Maximum
135 124124 129 116

100
Neutral 95
98 93
110 111
100
113 112117
Neutral
144 141 142 132 129 123 117
Minimum
0 Q3 Q4 Q1 2010 Q2 Q3 Q4 Q1 2011 Q2
Minimum
Q1 2009
Q2
Q1 2009
Q2
Q3
Q4
Q1 2010
Q2
Q3
Q4
Q1 2011
Q2
Q2 minus Q1 2011
Q2 minus Q1 2011
47%
50% 40% 30% 50%
34% 20% 6%
32%
40%
30%
33%
20%
10%
9%
20%
10%
11% 4% 5%
0%
0%
Very Pessimistic Somewhat Pessimistic Neutral Somewhat Optimistic Very Optimistic
21
Malaysia
Retail expenditure
200
Maximum
100
Neutral
51
63 61
58
74
74 78
66
75
57
Minimum
Q1 2009
Q2
Q3
Q4
Q1 2010
Q2
Q3
Q4
Q1 2011
Q2
Q2 minus Q1 2011
50% 40%
35%
36%
30%
20% 10%
12%
14%
4%
0%
Very Bad Time Somewhat Bad Time Neutral Somewhat Good Time Very Good Time
22
Singapore
Overview Singapore
Singapore has a developed economy and has one of the highest GDP per capita in the world. Export is the main source of revenue, making it highly dependent on world trade. The Port of Singapore is the busiest in the world. Singapore was affected strongly by the global recession, but bounced back remarkably and has shown high growth figures since, resulting in 14.7% growth in 2010. This level of growth is impossible to sustain and growth was projected to decelerate to between 4 and 6% in 2011. Strong year-on-year growth of 9.3% in the first quarter was followed by 0.5% growth in the second quarter. The quarter 2 growth is measured against a high base, as the Singaporean economy achieved a peak in Quarter 2 of 2010. This base effect accounts for a large portion of the deceleration and analysts do not panic over the recent numbers, as they expect growth to pick up again in the second half of the year. However, ongoing problems in Western economies can affect Singapores growth negatively and make growth in the rest of the year uncertain.
23
Singapore
Consumer Confidence Singapore

Since the strong emergence from the recession consumers are upbeat about economic circumstances, resulting in an Index of at least 120 since the end of 2009. Despite decelerating growth in 2011 consumers lost little of their optimism. Singaporeans were very negative about the economy during the recession, when the economy was contracting strongly. A perception that changed radically when the economy of Singapore resumed growth quickly. In 2011 consumers still experience a positive development, as consumers claim the economy has progressed in the last 12 months and will continue to do so in the coming year. Consumers are satisfied with their financial well-being and perceive a strong improvement since the recession. They expect their financial well-being to keep improving in the next 12 months. The willingness to buy major household items is somewhat below the neutral point.

200
Maximum
110
100
Neutral
138 137 128 124 122 124 126
88
62
Minimum
Q1 2009
Q2
Q3
Q4
Q1 2010
Q2
Q3
Q4
Q1 2011
Q2
Q2 minus Q1 2011
200
131
100
130
88
131
131
0 Current status of financial well-being Outlook of Time to buy Current financial major economy well-being household compared items to last year Economy next 12 months compared to now
24
Singapore
Current Economy
200
Maximum
Future Economy
200
Maximum
150
140
154
119
100
Neutral
140 146
131
100
132 104 Neutral
160 137 139 142
129
121
131
100
70
74
14
0
Minimum
Minimum
Q1
2009
Q2
Q3
Q4
Q1
2010
Q2
Q3
Q4
Q1
2011
Q2
Q1 2009
Q2
Q3
Q4
Q1 2010
Q2
Q3
Q4
Q1 2011
Q2
Q2 minus Q1 2011
Q2 minus Q1 2011
50% 40%
30% 20%
42%
32%
50%
43% 35%
40%
30%
12% 3% 2%
Much Worse Somewhat Worse Neutral Somewhat Better
20%
10%
10% 0%
8%
2%
Dont Know Much Worse
10%
0%
5%
6%
Dont Know
Much Better
Somewhat Worse
Neutral
Somewhat Better
Much Better
25
Singapore
200
Maximum

200
Maximum
100
131127 127 141 138 133 131 120 Neutral 101 90
117
100
Neutral
147 142 136 133 130 130 131
83
98
Minimum
Minimum
Q1
2009
Q2
Q3
Q4
Q1
2010
Q2
Q3
Q4
Q1
2011
Q2
Q1 2009
Q2
Q3
Q4
Q1 2010
Q2
Q3
Q4
Q1 2011
Q2
Q2 minus Q1 2011
Q2 minus Q1 2011
50%
44%
50% 40%
41%
39%
40%
30% 20%
26% 14% 12%
30%
20%
10%
0%
4%
8%
10% 0%
10%
3%
Very Somewhat Dissatisfied Dissatisfied
Neutral
Somewhat Satisfied
Very Satisfied
Very Pessimistic
Somewhat Pessimistic
Neutral
Somewhat Optimistic
Very Optimistic
26
Singapore
Retail expenditure
200
Maximum
100
Neutral
104112
69
48
Minimum
84
92 98
96
87 88
Q1
2009
Q2
Q3
Q4
Q1
2010
Q2
Q3
Q4
Q1
2011
Q2
Q2 minus Q1 2011
50% 40% 30%
41%
26% 9% 2%
Very bad time Somewhat bad time Neither good time nor bad time Somewhat good time Very good time
22%
20%
10% 0%
27
Thailand
Overview Thailand
The Thai economy contracted by 2.3% in 2009, following the global recession. Driven by economic growth in the region GDP growth recovered at 7.8% in 2010 and currently Thailand is on course to achieve the initial forecast of 4.1% for 2011 by the Bank of Thailand. Growth numbers suggest that the Thai economy is stable and there is no reason for concern. However, political instability has been an uncertain factor for some years and continues to be so despite the recent landslide general election victory of the Pheu Thai party. A possible attempt to bring back convicted ex-prime minister Thaksin to Thailand would severely add to political tensions. Pheu Thai faces strong pressure to implement its campaign promises, which include an increase of minimum wage, a minimum wage for new graduates and minimum rice prices. Economic analysts fear that these populist policies will strongly spur on inflation and will hurt exports, an important sector for the country. Though the Thai economy has been on a steady growth path since the recession, the immediate future of the country and its economic prospects are uncertain due to the political unrest. 28
Thailand
Consumer Confidence Thailand

The Consumer Confidence Index of Thailand has not been above the neutral level since the beginning of 2009 and has not shown consistent improvement. Though GDP growth is positive and stable, political instability is likely to have put a damper on consumers spirits. Despite actual GDP numbers showing economic growth, 64% of consumers claims the current economy is worse than it was a year ago. The view on the current economy has become more negative over the last three quarters. The general expectation is that the economic situation will not improve in the next 12 months. Ever since the low point of the recession Thai consumers have not expressed optimism about the future. The feeling about both current and future financial well-being dropped below the neutral level in the last two quarters. Consumers have also become more negative about large purchases. 72% claims it is a bad time to buy major household items. The most negative score since the end of the recession.

200
Maximum
100
Neutral
72 78
88
87 93 83 92
91
69 72
Minimum
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
2009
2010
2011
Q2 minus Q1 2011
200
82
100
97
95
39
0
48
29
Thailand
Current Economy
200
Maximum
Future Economy
200
Maximum
100
Neutral
49 48
Minimum
67
61
80
86
61
74
53 48
100
Neutral
88
98
110
94 100 102
109 102
79
95
0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Minimum
Q1
Q2
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
2009
2010
2011
2009
2010
2011
Q2 minus Q1 2011
Q2 minus Q1 2011
50% 40%
30%
43%
50% 40%
26% 21%
30%
26% 17%
28%
20%
8%
20%
10% 0%
20%
4%
7%
0%
10%
0%
0%
30
Thailand
200
Maximum

200
Maximum
100
Neutral 92
102100 105104 96 97
106 79 82
100
Neutral
120 116119 117 106 114 104 112
88
97
Minimum
Minimum
Q1
2009
Q2
Q3
Q4
Q1
2010
Q2
Q3
Q4
Q1
2011
Q2
Q1
Q2
Q3
Q4
Q1
Q2
Q3
Q4
Q1
Q2
2009
2010
2011
Q2 minus Q1 2011
Q2 minus Q1 2011
50%
40% 30% 20%
40% 27%
50%
40%
44%
23% 9%
30% 20%
25%
26%
10%
0%
2%
10% 0%
4%
1%
Somewhat Pessimistic Neutral Somewhat Optimistic Very Optimistic
Very Pessimistic
31
Thailand
Retail expenditure
200
Maximum
100
Neutral
29 32
0
Minimum
44
57 63 53 56
54
45 39
Q1 2009
Q2
Q3
Q4
Q1 2010
Q2
Q3
Q4
Q1 2011
Q2
Q2 minus Q1 2011
50% 40%
44%
28%
30% 20%
21%
7%
10% 0% Very Bad Time Somewhat Bad Time Neutral Somewhat Good Time Very Good Time
0%
32
Vietnam
Overview Vietnam
Vietnam suffered less impact from the global recession than many other countries in the region. After growing more than 8% in 2006 and 2007, economic growth slowed down in the following two years. However, with growth figures of 6.2% in 2008 and 5.3% in 2009 the economy kept expanding strongly. Vietnam achieved 5.6% growth in the first half of 2011, demonstrating steady progress. However, economic growth had severe negative side effects and Vietnam faces huge challenges. The government has not been able to control inflation, which is among the highest in the world and climbed towards 20% in the second quarter. The rising cost of living leads to social unrest and trade and budget deficits and foreign debts add to the challenges of the countrys leading party.
33
Vietnam
Consumer Confidence Vietnam

Vietnamese consumers have been upbeat throughout 2010, when their economy was growing strongly. Though GDP growth continued into 2011, inflation has soared and the cost of living increased strongly. This has caused consumers to lose their positive state of mind and the Consumer Confidence Index dropped to just above the neutral level.

200
Maximum
122
100
Neutral
132
128 127
124 102
107
The outlook on the economy has changed dramatically. In 2010 there was consensus among consumers that the economy was improving and would continue to do so in 2011. However this positive outlook disappeared in the first two quarters of 2011. Consumers no longer feel the economy is improving and are much less optimistic about the future.
In 2011 Vietnamese consumers also became less satisfied with current financial well-being and less optimistic about its future. However, the attitude towards major purchases did not change for the worse and remains just below the neutral level.
Minimum
Q4 2009
Q1 2010
Q2
Q3
Q4
Q1 2011
Q2
Q2 minus Q1 2011
200
111
100
121
89
99
116
34
Vietnam
Current Economy
200
Maximum
Future Economy
200
Maximum
150
Neutral
157
150 145
146 105 99
100
148
Neutral
150
147 150
151
118
116
100
Minimum
Minimum
Q4 2009
Q1 2010
Q2
Q3
Q4
Q1 2011
Q2
Q4
Q1
Q2
Q3
Q4
Q1
Q2
2009
2010
2011
Q2 minus Q1 2011
Q2 minus Q1 2011
49%
50%
40%
30% 20% 10%
36%
40%
50%
40%
27%
30%
16%
5% 0%
Dont Know Much Worse Somewhat Worse Neutral Somewhat Better
20% 4%
20%
3%
Much Better
10% 0%
1%
Dont Know
1%
Neutral Somewhat Better Much Better
0%
Much Worse
Somewhat Worse
35
Vietnam
200
Maximum

200
Maximum
124
100
Neutral
132
135 129 111 102
135 111
100
Neutral
142
128 130
112
109
121
Minimum
0 Q1 2010 Q2 Q3 Q4 Q1 2011 Q2
Minimum
Q4 2009
Q4
Q1
Q2
Q3
Q4
Q1
Q2
2009
2010
2011
Q2 minus Q1 2011
Q2 minus Q1 2011
50%
44%
50% 40%
44%
39%
40%
30% 20%
26%
23%
30% 20%
15% 1%
Very Pessimistic Somewhat Pessimistic Neutral Somewhat Optimistic
10%
0%
4%
3%
10% 0%
2%
Very Optimistic
Very Somewhat Dissatisfied Dissatisfied
Neutral
Somewhat Satisfied
Very Satisfied
36
Vietnam
Retail expenditure
200
Maximum
100
Neutral
101
80 55
79
80
77
89
Minimum
Q4
Q1
Q2
Q3
Q4
Q1
Q2
2009
2010
2011
Q2 minus Q1 2011
50%
42% 27%
40%
28%
30% 20%
10%
0%
3%
Very Bad Time Somewhat Bad Time Neutral Somewhat Good Time
2%
Very Good Time
37
Research Specifications
The survey is representative of 18+ in the urban areas on these characteristics: Gender Age Income The data was collected from 1-14 June 2011. China Sample size: 500 Locations: Shanghai, Beijing, Guangzhou Method: telephone interviews, random sampling Singapore Sample size: 300 Locations: Singapore Method: face-to-face interviews, random door-todoor Thailand Sample size: 500 Locations: Bangkok, Chiang Mai, Khon Kaen, Hat Yai Method: face-to-face interviews, random door-to door Vietnam Sample size: 400 Locations: Ho Chi Minh City, Hanoi Method: face-to-face interviews, sampling door-to door 38
Indonesia Sample size: 500 Locations: Jakarta, Surabaya, Medan Method: face-to face, random door-to-door
Malaysia Sample size: 500 Locations: Klang Valley, Penang, Johor Bahru Method: telephone interviews, random sampling
InsightAsia Contact Information

Singapore Head Office
9 Purvis Street #04-01 Singapore 188588, Singapore Tel: +65 6338 4780 E-mail: hello@insightasia.com
Indonesia (Jakarta) Office

Wisma 46, Kota BNI, 17th Floor Jl. Jen. Sudirman Kav.1 Jakarta 10220, Indonesia Tel: +62 21 571 4141 E-mail: hello@insightasia.co.id
China (Shanghai) Office

Rm.601-604 No.1170, Xi Zang South Road Shanghai 200011, China Tel: +86 2163129255 E-mail: hello@insightasia.com
Thailand (Bangkok) Office

Yada Bldg. 56 Silom Road Bangkok 10500, Thailand Tel: +66 2 237 5020 E-mail: hello@insightasia.co.th
Malaysia (Kuala Lumpur) Office

5 Persiaran Pantai Baru Kuala Lumpur 59200, Malaysia Tel: +60 3 2287 9500 E-mail: hello@insightasia.com.my
Philippines (Manila) Office

14th Flr, Net Cube Centre 3rd Ave., Corner 30th St E-Square Zone Fort Bonifacio, Global City Taguig 1634, Philippines Tel: +60 3 2287 9500 E-mail: hello@insightasia.com.ph
Vietnam (Ho Chi Minh) Office

Indochina Park Tower, #15-01 04-Nguyen Dinh Chieu St, District 1 Ho Chi Minh City, Vietnam Tel: +84 8 3910 1425 Email: hello@insightasia.com.vn
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The Asian Consumer Confidence Index Quarter 2 2011

China Indonesia Malaysia Singapore Thailand Vietnam

Consumer Confidence Index by country Q2 2011

Consumer Confidence Index by country Q2 minus Q1 2011

138 118 115

Current Financial Well-being

Future Financial Well-being

Economic Background China

Consumer Confidence China

Consumer Confidence Index

123111 122 125 114 117 113 110 111

131 136 127 128

153 158 147 148 143 143 138

Future Financial Well-being

119 121 110 113 113 111 115

50% 40% 30%

Economic Background Indonesia

Consumer Confidence Indonesia

Consumer Confidence Index

Current status of financial well-being

Economy next 12 months compared to now

123 121 115 110 118 111 101

Future Financial Well-being

149 150 144 149 138145 143

50% 40% 30%

Very Good Time

Consumer Confidence Malaysia

Consumer Confidence Index

125 118 113 122 112

Current status of financial well-being

Economy next 12 months compared to now

126 120 125 111 110

146 117 115

Future Financial Well-being

135 124124 129 116

144 141 142 132 129 123 117

Consumer Confidence Singapore

Consumer Confidence Index

138 137 128 124 122 124 126

132 104 Neutral

160 137 139 142

Future Financial Well-being

131127 127 141 138 133 131 120 Neutral 101 90

147 142 136 133 130 130 131

26% 14% 12%

Very Somewhat Dissatisfied Dissatisfied

50% 40% 30%

Consumer Confidence Thailand

Consumer Confidence Index

Economy next 12 months compared to now

Future Financial Well-being

120 116119 117 106 114 104 112

Consumer Confidence Vietnam

Consumer Confidence Index

Current status of financial well-being

Economy next 12 months compared to now

Future Financial Well-being

135 129 111 102

Very Somewhat Dissatisfied Dissatisfied

InsightAsia Contact Information

Indonesia (Jakarta) Office

China (Shanghai) Office