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Source:
http://sg.acnielsen.com |
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Global consumer confidence
sustained; though consumers remain cautious about spending:
ACNielsen |
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Singaporeans are upbeat about
the near future and local job prospects |
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Global consumer confidence remains at 2005
levels, with Indians leading the world on the 2006 ACNielsen Global
Consumer Confidence Index followed by the Norwegians and Danes.
Singapore ranks 11th globally. |
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¡°Back home, Singaporeans registered an
increased level of optimism in this latest survey compared to the
previous period and a year ago. The Singapore Consumer Confidence Index
climbed 7 points to reach a high of 110¡ªsurpassing the regional average
of 94,¡± observed Mr Ashok Charan, Managing Director of ACNielsen
Research Singapore. |
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¡°It represents a year on year improvement
from May 2005 where Singapore¡¯s Consumer Confidence Index was 99.¡± |
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Asia Pacific continues to house the most
optimistic consumers of all with six of the Global Top 10 markets
surveyed situated in the region. Compared to the previous period,
moreover, Hong Kong (111), Indonesia (111), Singapore (110), and the
Philippines (100) showed strengthened optimism. |
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Major Concerns |
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In Singapore, the Economy (54%), Job
Security (45%), and Health (42%) continue to be the top three concerns
amongst locals. With the anxiety over Health and Terrorism receding over
the last six months, Singaporeans are now more focused on the Economy. |
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¡°Fundamentals such as the economy and
employment will remain as top concerns among locals even in good
times. Singaporeans¡¯ optimistic sentiment is set to continue, in
light of the positive economic growth in the first half and
favorable outlook reported by the government for the year,¡±
commented Mr Charan. |
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In Singapore, locals have registered
greater optimism in the recent survey on all aspects¡ªjob prospects
(+7%), personal finances (+6%), and intention to spend (+7%),
compared to six months ago. |
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It¡¯s worth mentioning that Asian
markets of Singapore, Hong Kong and Indonesia are among the most
optimistic consumers during this round of the survey. |
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Amongst Singaporeans, the key
priorities continue to be saving their spare cash (60%), followed
by spending on Holidays/Vacations (49%). Next on the list are
Clothes shopping (29%), Paying off debts/credit card bills/loans
(28%), and spending on New Technology gadgets (25%). |
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The ACNielsen Online Consumer
Confidence and Opinion Survey is the largest half-yearly survey of
its kind aiming at gauging current confidence levels, spending
habits/intentions and current major concerns of consumers across
the globe. |
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The ACNielsen Consumer Confidence
Index is developed based on consumer¡¯s confidence in the job
market, status of their personal finance and their readiness to
spend. |
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The latest survey, conducted in late
May/early June, polled about 21,780 internet users in 40 markets
from Europe, Asia Pacific, North America to the Baltics. |
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Full Text of Press Release |
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Source:
http://sg.acnielsen.com
Press Release 4 Sep 2006 (Excerpted) |
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FrontPage Edition: Sat 4 November 2006
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