Hongkongers report steadier income in Q4

This suggested income stability amongst most families, TransUnion said.

Over half (55%) of Hong Kong consumers reported that their income is steady over the past three months, up three percentage points from last year, according to TransUnion.

This is amidst unemployment hit a three‑year high and youth joblessness elevated to 8% by the third quarter of 2025 (Q3), it said in its Consumer Pulse Study for Q4 2025.  

In the study, 12% of respondents reported an income decline in Q4, compared to 14% of respondents a year ago.  

This pattern suggested that household earnings have flattened rather than fallen, indicating income stability amongst most Hong Kong families, TransUnion said.

In Q4 2025, income stability eased financial pressure for many, with only 12%) expected that they would be unable to pay at least one of their current bills and loans in full, down from 20% a year ago and the lowest level in five quarters.

This significant improvement aligned with a modest rise in optimism, as 54% of respondents expressed confidence in their financial outlook for the year ahead, up two percentage points from the same period last year.

However, the cost of living remains their primary concern. Six in ten (61%) respondents identified inflation on everyday goods as their top worry affecting household finances over the next six months, closely followed by job stability (60%), the credit reference agency said.

It added that the city’s GDP expanded at 3% or more in each of the first three quarters of 2025.

Amidst solid output alongside a softer job market, consumers remained relatively confident about income prospects heading into 2026. A strong majority (87%) expected their income to increase or stay stable over the next 12 months, with 43% who anticipated growth.