SINGAPORE - Consumer confidence in Singapore showed a slight improvement in the first quarter of 2013, according to the latest global consumer confidence findings from Nielsen.
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SINGAPORE CONSUMER CONFIDENCE REMAINS BUOYANT IN Q1 2013
Singaporeans more optimistic about the future of the economy, job prospects and personal finances; consumer spending intentions increasing.
Consumer confidence in Singapore remained stable throughout the first quarter of 2013, according to the latest global online consumer confidence findings from Nielsen, a leading global provider of information and insights into what consumers watch and buy. Singapore consumer confidence indexed at 96 in Q1 2013, a one-point increase from the previous quarter (Q4 2012) and has remained at the same level year-on-year.
Singapore now ranks in eighth position within 14 Asia Pacific countries 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 (122 points). The average Index for Asia Pacific in Q1 2013 remains at 101 points and the region continues to lead the ranks globally as the most confident region. Globally, consumer confidence increased 2 points to 93.
"Our latest survey results show that consumers in Singapore are feeling slightly more upbeat about their job prospects, personal finances and the future recovery of the economy. The strengthening consumer outlook was also reflected in spending intentions," said Luca Griseri, Head of Financial Services, Nielsen Singapore and Malaysia. "We saw improvements in economic sentiments across the globe and in particular in our region where Hong Kong, Japan, South Korea, and Taiwan posted double-digit confidence increases."
The Nielsen Global Survey of Consumer Confidence and Spending Intentions, established in 2005, measures consumer confidence, major concerns, and spending intentions among more than 29,000 respondents with Internet access in 58 countries. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism.
In the latest round of the survey, conducted February 18-March 8, 2013, consumer confidence rose in 60 per cent of global markets measured by Nielsen, compared to a 33 per cent increase reported in Q4 2012.