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Financial optimism grows in Hong Kong amid inflation fears

Consumer optimism over household finances in Hong Kong is rising, with 46% reporting better-than-expected financial conditions, marking a 20% increase from Q1, states a TransUnion poll. Moreover, 62% of respondents are optimistic about their finances in the next year, a significant increase from 34%. Despite this, inflation is a concern for 58% of those surveyed, with 44% worried about a potential recession. Notably, concerns about stock volatility and rising rates have grown quarter over quarter. The study also revealed that 37% of Generation Z showed high interest in new credit services. This comes as Standard Chartered lifts its forecast for Hong Kong's 2023 economic growth from 3.6% to 4.3%, anticipating a stronger-than-expected GDP growth of 2.7% in Q1.


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