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HK consumers’ pessimism about the economy sees them spending more outside city
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Hong Kongers feel highly uncertain about the city’s economic situation.
PHOTO: REUTERS
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HONG KONG – Hong Kongers remain pessimistic about their economy in 2024 amid fears of higher inflation and job losses, but they are continuing to spend outside the city as a means of reducing their overall expenses, experts say.
Consumer confidence in Hong Kong fell 7.2 per cent to 88 points in the first three months of 2024 compared with the same period a year earlier, the City University of Hong Kong (CityU) found in its quarterly Chinese Consumer Confidence Index (CCCI) report released on April 8.
