MARKET SURVEY: Mood & Intentions: Asia Pacific Region 2019 Q1 (Part 1)
In the first quarter of 2019, over 310 respondents participated in ASG’s survey regarding the mood and intentions of the current business aviation market.
Pessimism mood continued to spread in Asia Pacific, reaching its highest point since 2016 Q4.
The Chinese government released its annual GDP growth rate for 2018, followed by the government’s plans for growth and its economic outlook for 2019, all of which have continued to raise concerns.
In Q1 2019, 29% of respondents believed that the economy passed its low point and will improve. This is the lowest level since Q4 2016 and is significantly lower than just one year prior (Q1 2018) when the number was 52%. The number of respondents who believe the current economy is at its low point and will get better is 35%; 6% higher than the previous quarter. Additionally, 36% of respondents believed that the economy hadn’t reached its low point and will continue to worsen, which is higher than the previous quarter’s level and the highest level of pessimism since 2017 Q1.
In Q1 2019, the optimism levels for Greater China (Mainland, Hong Kong, Macau and Taiwan) continued to be the main contributor to the overall low optimistic levels, as concerns over the future economy remain. In general, respondents who believed that the current economic situation has passed its low point or is at its low point can be described as optimistic. This quarter, 64% of respondents believed that our economy will improve in the future; a trend that has decreased since 2017 Q4 and the lowest point since 2016 Q1.
(To be continued…)