Report Shows Improving Consumer Sentiment

By Jasmine Ng | Source: The Business Times Singapore

SINGAPOREANS are feeling more inclined to reach for their wallets as better job prospects and personal finances stoke confidence, according to a Nielsen global consumer confidence survey.

Consumer confidence here indexed at 96 in the first quarter this year – a one-point increase from the previous quarter and unchanged from the year-ago period. Levels above and below a baseline of 100 indicate degrees of optimism and pessimism.

This places the Republic in eighth place among 14 Asia-Pacific countries in terms of consumer confidence, ahead of Australia, Vietnam, New Zealand, Taiwan, Japan and South Korea.

The region has an average index score of 101, and is the most confident region worldwide. Consumers in Indonesia lead the pack both in Asia and globally with an index of 122 points.