Singapore posts deteriorating consumer confidence

Singaporeans showed strong declines in consumer sentiment compared to the previous six months.

According to a release, consumer confidence among developed markets in Asia/Pacific has dropped as concerns about slow growth spread across the region, according to the latest MasterCard Worldwide Index of Consumer Confidence.

The MasterCard Worldwide Index of Consumer Confidence is based on a survey conducted between 5 December 2011 and 8 February 2012 on 12,915 respondents aged 18 to 64 years in 25 countries within Asia/Pacific, Middle East and Africa. This is the 38th survey of consumer confidence conducted since 1993. Now in its 20th year the Index is Asia/Pacific’s most comprehensive and longest running consumer confidence survey. The Index score is calculated with zero as the most pessimistic, 100 as most optimistic and 50 as neutral. The Index and its accompanying reports do not represent MasterCard’s financial performance.

Only 5 out of 14 Asia/Pacific markets polled recorded positive sentiment when compared to the first half of 2011. The last Index conducted during the first half of 2011 showed that 11 out of the 14 Asia/Pacific markets polled recorded positive consumer sentiment with stable optimism. Overall, Asia/Pacific saw a drop from 57.4 Index points in the first half of 2011 to 52.1 Index points with declines in all key indicators of regular income (69.0 to 64.5 Index points), employment (56.8 to 49.3 Index points), economy (54.8 to 49.3 Index points), quality of life (49.7 to 49.6 Index points) and stock market (56.7 to 47.9 Index points).

Extreme deteriorations were recorded in Hong Kong, down 38.7 Index points compared to the first half of 2011. Taiwan (down 36.3 Index points), Singapore (down 25.9 Index points) and South Korea (down 19.7 Index points) also saw strong declines in consumer sentiment compared to the previous six months. However, significant improvement was recorded in emerging markets such as Indonesia (up 21.8 Index points), Thailand (up 19.5 Index points), India (up 18.4 Index points) and Philippines (up 24.7 Index points).

Also Read

Retail space stocks grow by 19,000 sqm in Q1 2024

Sheng Siong net profit up 8.9% to $36.3m in 1Q24

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit