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ANZ-Roy Morgan Singapore Consumer Confidence Eased in June
June 24 2015
- Finding No.
Consumer Confidence Press Release
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 June 2015.
ANZ-Roy Morgan Singapore Consumer Confidence has decreased to 129.4 (down 0.3pts) in June. Singapore Consumer Confidence is still clearly above its long-term average of 122.6 and far higher than a year ago in June 2014 (118.0).
ANZ Chief Economist South Asia, ASEAN & Pacific, Glenn Maguire said:
- In terms of personal finances now 29% (down 2ppts) of respondents said their families are ‘better off’ financially than a year ago compared to just 7% (down 1ppt) that said they are ‘worse off’ financially.
- Now 36% (up 1ppt) of respondents said they expect their family to be ‘better off’ financially in a year’s time (the highest for this indicator since July 2014) compared to only 4% (unchanged) that expect to be ‘worse off’ financially in a year’s time (the equal record low for this indicator ever recorded).
- Thinking of economic conditions in Singapore going forward, exactly half of respondents, 50% (down 1ppt), expect Singapore to have ‘good times’ financially over the next 12 months compared to just 7% (down 1ppt) that expect ‘bad times’ financially (the equal record low for this indicator ever recorded).
- Over the longer-term now 48% (down 5ppts) of respondents expect Singapore to have ‘good times’ financially during the next five years and only 6% (down 2ppts) expect ‘bad times’ financially (the equal record low for this indicator ever recorded).
- Now 20% (unchanged) of respondents say now is a ‘good time to buy’ major household items while just 12% (down 1ppt) say now is a ‘bad time to buy’ major household items (the lowest ever recorded for this indicator).
“ANZ-Roy Morgan Singaporean Consumer Confidence remains both subdued in an absolute sense but elevated in a relative sense highlighting what appears to be complex determinants of the confidence formation mechanism in the Lion City.
"Exactly half of the respondents to our survey believe that Singapore will have good times financially over the 12 months ahead, and just under half feel that Singapore will enjoy good times during the next five years. These dynamics have been slowly and modestly improving over the life of our survey (18 months now) suggesting that the overhang of supply-side restructuring is only gradually fading.
"More importantly, we are continuing to suspect that, what we could term, ‘Singaporean Pride’ plays an increasingly important role in the confidence formation mechanism in Singapore. Confidence rose on reflection of all that Lee Kuan Yew achieved for Singapore at the time of his passing, and we note that Singapore’s best ever performance in the current South East Asia (SEA) Games may have played a role in ensuring essentially stable sentiment over June.
"Clearly, Singaporean confidence is slower to transform and re-invent itself than this remarkable country itself. We, however, remain optimistic that a sure but steady improvement in Singaporean consumer confidence remains likely in the months and quarters ahead.”
Click to view the latest ANZ-Roy Morgan Singaporean Consumer Confidence Release PDF - June 2015.
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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.
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