While the consequences of the war in Iraq dominated Asian consumer sentiment in March, reinforces this month's Asia Consumer growth prospects index (april 2003) that SARS has emerged as an even greater threat to consumer spending in Asia for the next 12 months. For the first time since the start of the index, China has suffered two major "downgrading" in a row.
Index for Asian Consumer growth prospects is a monthly index and brief analysis of the prospects for the Asian consumer growth over the next 12 months based on relevant secondary economic indexes as well as the views of a panel of consumer trend watchers in Asia. it has run now for over 12 months.
Almost all the 12 Asian economies interviewees saw a decline in the index, with Singapore and Hong Kong the most effected. Decline was not unexpected, with the Government figures in both countries, predicting a major impact on economic growth for the next 12 months.Even in countries not directly affected by SARS currently such as Thailand and Malaysia feel greater impact through a dramatic decline in the past relatively bouyant regional tourism sector which countries impose travel ban and screening for tourists from affected countries.
Today downgraded both ING and Merrill Lynch both Hong Kong in the aftermath of SARS developments as new cases are reported, and there are no signs yet that the outbreak has peaked in the SAR and the PRC. the latter also downgraded the worldwide aviation segment.
Released april 14, 2003, 05: 48 PM in Asia
No comments:
Post a Comment