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ANZ-Roy Morgan Singaporean Consumer Confidence edging sideways at 125.2

The monthly ANZ-Roy Morgan Singapore Consumer Confidence Index is based on 1,000 face-to-face interviews conducted throughout Singapore. Men and women aged 14 and over were randomly selected during the month of November 2015.

The ANZ-Roy Morgan Singapore Consumer Confidence Index inched up slightly to 125.2pts (up 0.2pts m/m) in November. The index is now 4.3pts higher than it was a year ago (Nov 14: 120.9) and remains above its long-term average of 123.6pts.

  • In terms of personal finances, 31% (up 4ppts m/m) of respondents said their families are ‘better off’ financially than a year ago. Meanwhile, 10% (up 1ppt) said they are ‘worse off’.

  • 32% (down 1ppt) of respondents said they expect their families to be ‘better off’ financially in a year’s time, the lowest since February 2015. At the same time, about 7% (unchanged) expect to be ‘worse off’, the highest since February 2015.

  • When queried about their perceptions about the overall economy, 52% (up 1ppt) of those surveyed expect Singapore to have ‘good times’ financially over the next 12 months while 11% (unchanged) expect ‘bad times’.

  • Over the longer five-year horizon, 48% (down 1ppt) of respondents believe Singapore will experience ‘good times’ financially. However, a record high of 14% (up 4ppts) expect ‘bad times’.

  • 19% (down 1ppt) of respondents think ‘now is a good time’ to buy major household items , a record low since April 2015. On the other hand, 14% (down 4ppts) are not ready to commit to big-ticket purchases.
ANZ Chief Economist South Asia, ASEAN & Pacific, Glenn Maguire says:

“We would assess ANZ-Roy Morgan Singaporean Consumer Confidence as edging sideways, albeit on the slightest of an improving trend, much like the economy itself.

"The narrow miss of a technical recession during Q3 and a slight adjustment to monetary policy settings in October probably saw local households enter November with a slightly more optimistic disposition. However, on an absolute basis, the proportion of Singaporeans who are confident about the economic and financial outlook remains particularly low. We note that only 31% of respondents (up 4ppts m/m) believe that their families are better off financially than they were a year ago, and only 32% believe that their financial situation will improve over the next year.

"On the overall economy, Singaporeans are similarly more optimistic, but hardly sanguine. 52% of respondents believe the country’s prospects to remain ‘good’ over the next year. Over the five-year horizon, a slightly lower 48% are upbeat about the domestic economy. This muted confidence is manifest in the very low number of respondents who are willing to purchase major household items. Indeed, only 19% of Singaporeans are ready to do so at the moment.

"The ANZ-Roy Morgan Singaporean Consumer Confidence survey continues to paint a picture of households being restrained by uncertainty and a lack of pervasive optimism on the macroeconomic outlook. It is highly unlikely that domestic demand, especially consumption, will emerge as an offset to a challenging external environment anytime soon.”

ANZ-Roy Morgan Singaporean Consumer Confidence Rating - November 2015 - 125.2

ANZ-Roy Morgan Singaporean Consumer Confidence Rating - November 2015 - 125.2

Click to view the latest ANZ-Roy Morgan Singaporean Consumer Confidence Release PDF - November 2015.

Latest ANZ-Roy Morgan Consumer Confidence Releases

Latest ANZ-Roy Morgan Singapore & Asia-Pacific Consumer Confidence Data Tables

Related Research Reports

The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more.

You can also view our monitor of Monthly Australian Unemployment & Under-employment Estimates.