Index sectors cover 2/3 of GDP

SINGAPORE Management University's Institute of Service Excellence did the CSISG 2015 fourth quarter survey focusing on the finance and insurance and healthcare sectors between October 2015 and January 2016, concluding the measurement for CSISG 2015.

The info-communications and retail sectors were covered in the first quarter. This was followed by the air transport, land transport, logistics, public education, and private education sectors in the second quarter. The food and beverage and tourism sectors were measured in the third quarter.

In total, the CSISG 2015 study recorded 42,501 unique responses covering 2,330 companies in the 11 industry sectors studied. These sectors cover two-thirds of Singapore's gross domestic product (GDP).

The CSISG, now in its ninth year, complements production based economic measures such as the GDP by providing an assessment from the buyers' point of view. Both types of measures are necessary as economic growth hinges not only on producing more, but producing better and more competitive products and services, says the institute.

CSISG measures customers' cumulative satisfaction with companies. Its methodological foundations are based on the American Customer Satisfaction Index (ACSI) developed by the National Quality Research Center at the University of Michigan. ACSI has been the de facto standardised measure of customer satisfaction in the US economy since 1994.