RI most pessimistic nation

RI most pessimistic nation

Indonesians are the most pessimistic people in the Asia Pacific
region when it comes to the economy, a survey published in Hong
Kong Thursday has found.

Only 17 percent expect to see a recovery by the second quarter
of 2003 with half saying the chance of it getting worse was their
major concern - more worrying than job security, health and
terrorism.

The Japanese and Thais were the next most pessimistic nations
with only 22 and 25 percent respectively believing in an imminent
recovery.

On the other hand, the Indians, Singaporeans and South Koreans
emerged as the most optimistic with around 70 percent believing
the recovery would occur within the year - a much higher figure
than the regional average of 47 percent.

The survey, carried out in July by marketing information
specialists ACNielsen, questioned almost 8,000 people in 13 Asia
Pacific countries including Australia, China, Hong Kong, Japan,
Singapore, Taiwan and Thailand.

It found consumer confidence had worsened in the last six
months and that 99 percent of people polled believed we are now
in the grips of a global recession compared to 85 percent in
December last year.

As a consequence, more than half of those polled across the
region claimed to have put off investments and major purchases
over the last six months.

The car industry was the biggest victim of declining
confidence with cars accounting for 32 percent of postponed
purchases, followed by extended holidays (28 percent), stocks and
shares (26 percent) and property (24 percent). -- DPA