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ANZ-Roy Morgan Singaporean Consumer Confidence ends 2015 on high - 126.5
December 23 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 December 2015.
ANZ-Roy Morgan Singapore Consumer Confidence has increased to 126.5 (up 1.3pts) in December. Singapore Consumer Confidence is now clearly above its long-term average of 123.7 and is now 4.7pts higher than last year in December 2014 (121.8).
ANZ Chief Economist South Asia, ASEAN & Pacific, Glenn Maguire said:
- In terms of personal finances, 29% (down 2ppts) of respondents said their families are ‘better off’ financially than a year ago compared to 8% (down 2ppts) that said they are ‘worse off’ financially.
- Now 32% (unchanged) of respondents said they expect their family to be ‘better off’ financially in a year’s time (the equal lowest result recorded for this indicator since February 2015) compared to only 8% (up 1ppt) that expect to be ‘worse off’ financially in a year’s time (the highest recorded result for this indicator since February 2015).
- Thinking of economic conditions in Singapore going forward, exactly half of respondents (50%; down 2ppts) expect Singapore to have ‘good times’ financially over the next 12 months (the equal lowest response recorded for this indicator since April 2015) compared to 11% (unchanged) that expect ‘bad times' financially.
- Over the longer-term, now 50% (up 2ppts) of respondents expect Singapore to have ‘good times’ financially during the next five years and 11% (down 3ppts) expect ‘bad times’ financially.
- Presently, 23% (up 4ppts) of respondents say now is a ‘good time to buy’ major household items, while 13% (down 1ppt) say now is a ‘bad time to buy’ major household items.
“Though ANZ-Roy Morgan Singaporean Consumer Confidence increased in December, the underlying details of the index paint a mixed picture of changeable and brittle sentiment drivers. This is consistent with an economy where both the external and domestic environments have dragged the Singaporean economy down to near technical-recession. The recovery in the economy in 2016 remains dependent on a highly uncertain trade and external outlook.
"The two most notable areas of weakness in the survey responses were the assessment of personal finances and the 12 month outlook for whether Singapore would have good times ‘financially’. The deterioration in these two questions has been borne out by recent real data. The reduction in households optimism of near-term prospects is apparent in recent retail sales ex auto print. Despite ongoing headline disinflation, consumption expenditure has not accelerated, restrained by tighter financial conditions and a slowing property market.
"Instead, retail sales ex autos have normalised to pre-SG-50 levels, after the strong upswing in August. Our final consumer confidence index reading for Singapore suggests that 2016 will be no less a challenging year for the Singaporean consumer than 2015.”
Click to view the latest, and the final, ANZ-Roy Morgan Singaporean Consumer Confidence Release PDF - December 2015.
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