SINGAPORE: Consumer confidence in Singapore has
shown an uptick in the first quarter of this year - the first in
seven quarters.
This is according to the the latest Nielsen's Global
Consumer Confidence Index survey.
It rose two points to 96 points in first quarter,
recovering from its two-year low.
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.
And 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.
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.
- CNA/ck