Singapore dropped from 92 points on the Nielsen Global Consumer Confidence Index late last year to 80. This is the third consecutive decline in the twice-yearly index since the all-time high in late 2007.

The global average is only slightly lower, at 77 points. The Nielsen index tracks consumer preferences among more than 25,000 Internet users in 50 countries. Its latest survey was conducted from mid-March to early April this year.

Indonesia had the most upbeat consumers at 104 points, followed by Denmark and India at 102 and 99 respectively. South Korea was at the other end of the spectrum with 31 points, followed by Portugal and Latvia, both at 48.

Consumer confidence took a tumble everywhere, except in Taiwan where it moved up from 60 to 63.

Mr Paul Richmond, managing director of the consumer group at The Nielsen Company Malaysia and Singapore, said the past six months have brought bad tidings for consumers, bruising their confidence.

Fears of unemployment proved to be the main concern among those surveyed. In Singapore, job security overtook the economy as consumers' foremost concern, with 49 per cent now worried about losing their jobs as compared with just 26 per cent six months ago.

This puts Singaporeans in second place globally in terms of the proportion of consumers concerned about their job security.

Locally, 22 per cent of respondents thought job prospects will be 'bad' for the next 12 months, while 56 per cent thought they will be 'not so good'.

Read the full story in Friday's edition of The Straits Times.