By Vimita Mohandas, Channel NewsAsia, 1 May 2012
Consumer confidence in Singapore showed an uptick in the first quarter of this year, according to the latest report by research firm Nielsen.
The Nielsen Global Consumer Confidence Index for Singapore rose two points to 96 points in the first quarter, recovering from a two-year low.
The increase is the first in seven quarters, according to the survey.
The survey, which was conducted between February 10 and 27, polled 500 respondents.
Singapore now ranks in eighth position within 14 Asia Pacific countries in terms of consumer confidence, ahead of Japan, Korea, Australia, New Zealand, Taiwan and Vietnam.
Singaporeans surveyed are also feeling more positive about their future job prospects with one in two saying prospects are excellent or good -- up from 42 per cent a quarter earlier.
The number of respondents who cited the economy as their biggest concern also fell to 18 per cent in first quarter compared to 26 per cent in fourth quarter 2011.
Only 27 per cent believe Singapore is in recession - down 2 per cent from the last quarter.
Among those who believe the country is in recession, 27 per cent said the economy would recover over the next 12 months, an improvement of five points from a quarter earlier.
Consumers are also slightly more upbeat about spending.
The number of consumers that indicated the next 12 months will not be a good time to buy things has decreased - 62 per cent compared to 65 per cent a quarter earlier.
However, even as economic conditions improve further, consumers surveyed said they intend to save on their household expenses.
No comments:
Post a Comment