SINGAPORE: Consumer confidence in Singapore has remained stable throughout the first quarter of 2013, according to the latest Consumer Confidence Index by Nielsen.
The global information and measurement company said this signals that Singapore consumers are feeling slightly more upbeat about their job prospects, personal finances and the future recovery of the economy.
Singapore consumer confidence index was at 96 points in the first quarter of 2013 – a one-point increase from the previous quarter.
It has remained at the same level year-on-year.
Singapore now ranks eighth among 14 Asia Pacific economies in terms of consumer confidence – ahead of Australia, Vietnam, New Zealand, Taiwan, Japan and Korea.
Consumers in Indonesia are the most confident in Asia and globally with 122 points.
Singapore also falls slightly below the Asia Pacific average index of 101 points.
Though, the region continues to lead the ranks globally as the most confident region.
Hong Kong, Japan, South Korea and Taiwan saw double-digit confidence increases.
Globally, consumer confidence increased two points to 93.
Singapore consumers are also more optimistic about the economy and job prospects.
With regard to job prospects, almost one in two said prospects are excellent or good.
This is up three percentage points from 46 per cent a quarter earlier.
Singaporeans surveyed also had a more positive outlook on their personal finances this quarter.
More than half of those surveyed considered their personal finances over the next 12 months to be good or excellent.
Continuing the trend seen throughout last year, men in Singapore had a more positive outlook of their personal finances compared to women in the first quarter of this year.
Forty-two per cent of men said their personal finances over the next 12 months would be good or excellent, compared to 29 per cent of women.
They were also more upbeat about spending – 35 per cent indicated that the next 12 months will be a good time to buy things they need or want, up two percentage points from the last quarter.
Those surveyed said they had more spare cash to spend in this quarter, up three percentage points to 10 per cent from the last quarter.
The majority of Singaporeans surveyed continue to channel spare cash into saving – this is up six percentage points from the previous quarter to 64 per cent.
Those who intend to invest their spare cash in shares of stock or mutual funds also increased by three points to 27 per cent.
Though, men were more likely than women to invest their spare cash in shares of stock or mutual funds and women were more likely to save their spare cash compared to men.
Consumer confidence in Singapore remains stable in Q1 2013: survey
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