Huanlian Survey: Only 29% of surveyed Hong Kong consumers reported an increase in household income in the past 3 months, a year-on-year decrease of 13 percentage points

Hong Kong consumer household income has dropped by 13 percentage points, but when facing economic uncertainty, they will be more cautious in managing their personal finances. A survey shows that 44% of consumers are optimistic about their family's financial situation in the next 12 months, but 20% of respondents expect to be unable to pay all bills and loans. Consumers are concerned about inflation of daily necessities, economic recession, and job opportunities. In the next 3 months, 41% of consumers plan to cut major expenses, and 37% will reduce non-essential spending. In terms of credit, 30% of consumers plan to apply for new credit or refinance. Generation Z faces challenges in debt management and needs to improve financial literacy