ANZ-Roy Morgan Singapore Consumer Confidence Index dips in October

The ANZ-Roy Morgan Singapore Consumer Confidence Index fell 0.5 points from a month ago to 120.2 points in October, the bank said on Wednesday.

The dip reflects faltering confidence about respondents' personal financial situations over the next year. On a net basis, 19.2 per cent of respondents expect their financial situation to be better next year. This is down six percentage points from the 25.2 per cent registered a month ago.

"We detect considerable uncertainty on the part of Singaporean consumers and fail to see consumer confidence making a significant directional break either up or down, though risks appear to be skewing towards weaker confidence," said ANZ chief economist for South Asia, Asean & the Pacific, Glenn Maguire, in the report.