CONSUMER CONFIDENCE REMAINS STABLE IN Q3

KUALA LUMPUR: Malaysia’s consumer confidence remained stable in the third quarter of this year with an index score of 93 percentage points — down one point compared with the second quarter, according to the latest Global Survey of Consumer Confidence and Spending Intentions released recently by Nielsen.

Nielsen said while confidence level stayed steady, the nation slipped four spots to be the 32nd most confident country globally, from 28th in the previous quarter.

Nielsen Malaysia managing director Raphael Pereda said the consumer confidence level remained on par with that of the second quarter — below the neutral threshold — but still at its highest level for over two years.

“The higher trend in sentiment observed over the last couple of quarters, coupled with continued improvement in key economic indicators, has also led to first-quarter growth in FMCG (fast-moving consumer goods) this year.”

Besides, Nielsen said Malaysian consumers continued to rank the nation’s fiscal status and job security as their top two key concerns while 17 per cent of the survey respondents listed debt as the third most worrisome.

Recessionary sentiments among Malaysians continued to remain high.

However, at least one in four respondents are feeling positive that the country will be out of recession in the next 12 months.

Malaysian consumers also continue to remain upbeat on their state of personal finances with 56 per cent perceiving that their state of personal finances will be either good or excellent in the next 12 months. Forty-five per cent of the respondents also feel confident about the local employment outlook over the next 12 months.