Singapore consumer confidence down amid personal finance worries
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Consumer confidence in Singapore fell in February, mainly due to Singaporeans’ reduced confidence about their personal finances over the next 12 months.
This is according to a consumer confidence index by ANZ-Roy Morgan which fell 2.1 percentage points (ppts) month on month to 120.7 in February.
The index sampled 1,000 randomly selected Singaporeans via face-to-face interviews, and also ensured that the income and gender proportions were similar to those of the national census.
Questions & Answers
Q.What was the main reason for the drop in consumer confidence in Singapore?
What was the main reason for the drop in consumer confidence in Singapore?
The primary cause for the decline in consumer confidence was Singaporeans' decreased optimism regarding their personal finances. This reduced confidence specifically pertained to their financial outlook for the upcoming 12 months.
Q.What was the consumer confidence index score in February?
What was the consumer confidence index score in February?
The ANZ-Roy Morgan consumer confidence index recorded a score of 120.7 in February. This figure represents a month-on-month decrease of 2.1 percentage points, indicating a notable drop in overall sentiment.
Q.How many people were surveyed for this consumer confidence index?
How many people were surveyed for this consumer confidence index?
The index was based on a sample of 1,000 randomly selected Singaporean individuals. Interviews were conducted face-to-face, ensuring a direct and personal approach to data collection for the survey.
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