SINGAPORE: Consumer confidence in Singapore has shown an uptick in the first quarter of this year - the first in seven quarters.
This is according to the the latest Nielsen's Global Consumer Confidence Index survey.
It rose two points to 96 points in first quarter, recovering from its two-year low.
Singapore
now ranks in eighth position within 14 Asia Pacific countries in terms
of consumer confidence ahead of Japan, Korea, Australia, New Zealand,
Taiwan and Vietnam.
Singaporeans surveyed are also feeling more
positive about their future job prospects with one in two saying
prospects are excellent or good - up from 42 per cent a quarter earlier.
And
the number of respondents who cited the economy as their biggest
concern also fell to 18 per cent in first quarter compared to 26 per
cent in fourth quarter 2011.
Consumers are also slightly more upbeat about spending.
The
number of consumers that indicated the next 12 months will not be a
good time to buy things has decreased - 62 per cent compared to 65 per
cent a quarter earlier.
However, even as economic conditions improve further, consumers surveyed said they intend to save on their household expenses.
- CNA/ck