Singapore consumers feel less confident of their personal financial situation: Index

Shoppers seen inside Raffles City Shopping Centre on 2012. -- PHOTO: ST FILE
Shoppers seen inside Raffles City Shopping Centre on 2012. -- PHOTO: ST FILE

SINGAPORE - An index of consumer confidence in Singapore edged down marginally to 120.2 in October.

This was partly due to a slight increase in respondents feeling less confident about their personal financial situation over the next year.

The ANZ-Roy Morgan Singapore Consumer Confidence Index released on Wednesday morning however found that more respondents were confident of Singapore's economic conditions going forward over the next 12 months.

Over the longer-term such as five years, more respondents too were confident that Singapore would enjoy good times.

ANZ Chief Economist South Asia, ASEAN & Pacific, Glenn Maguire said: "We detect considerable uncertainty on the part of Singaporean consumers .... though risks appear to be skewing towards weaker confidence."

He added that "we detect a large proportion of undecided or unsure answers" on their personal financial situation.

Mr Maguire said that the return of market and economic volatility will cloud short-term visibility.