Consumer confidence here highest in over 12 months

Consumer confidence here highest in over 12 months

SINGAPORE - For workshop supervisor Hanis Mohd Ariffin, indulging in a spot of shopping once a week or so is a way of relieving the stresses of life.

"Life can get hectic, so I feel it's okay to pamper yourself every now and then," the 28-year-old, who works in the oil and gas industry, told My Paper.

"After all, money is meant to be spent," she said, adding that she usually spends "several hundred" dollars monthly on shopping and entertainment.

Ms Hanis is one of many Singaporeans who remain upbeat about their personal finances.

According to the latest Consumer Confidence Index by global information and analytics firm Nielsen, consumer confidence here rebounded in the third quarter of the year to reach its highest level in more than 12 months.

The index rose four points to 98, up from 94 in the second quarter. The results are part of the Nielsen Global Survey of Consumer Confidence and Spending Intentions, which polled more than 29,000 consumers in 58 countries throughout the Asia-Pacific, Europe and the Middle East, among others.

Started in 2005, it tracks consumer confidence, major concerns and spending intentions.

Conducted online in August and September, the survey found that 57 per cent - a 7- percentage-point increase from the previous quarter - of the 512 Singaporeans polled view the state of their personal finances in the coming 12 months as "good" or "excellent".

Ms Joan Koh, managing director of Nielsen Singapore and Malaysia, said: "Consumers here are feeling more optimistic about their personal finances and job prospects."

Some 36 per cent of respondents said they felt the next 12 months would be "a good time to buy what they need or want", up from 30 per cent in the previous quarter of the year.

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