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Singapore's consumer confidence stable in Q2: Nielsen survey

Tuesday, August 2, 2016 - 14:32
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SINGAPORE'S consumer confidence for the second quarter of 2016 held steady at 88 points, according to the Nielsen Global Survey of Consumer Confidence and Spending released on Tuesday.

SINGAPORE'S consumer confidence for the second quarter of 2016 held steady at 88 points, according to the Nielsen Global Survey of Consumer Confidence and Spending released on Tuesday.

But survey findings also showed that an uncertain economic outlook has upped Singaporeans' concerns over job security and career prospects.

Said Joan Koh, managing director, Singapore and Malaysia, Nielsen: "Singapore's economy has seen a slight improvement in the second quarter. However, we are not out of the woods yet as the increased unemployment rate and concerns over mixed performances from various industries continue to cloud the minds of locals."

Nielsen noted that Singapore consumers have reduced spending on home improvement and decorative expenses, as well as new clothes. However, they have also put less of their spare cash towards savings in Q2, and channelled more towards new technology products and out-of-home entertainment.

The Nielsen Global Survey of Consumer Confidence and Spending Intentions was conducted in May. It polled over 30,000 online consumers in 63 countries throughout Asia-Pacific, Europe, Latin America, the Middle East/Africa and North America, including 501 respondents from Singapore.

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