07 Feb '12, 10am

S'poreans "pessimistic about future"

S'poreans "pessimistic about future"

SINGAPORE: Singaporeans seem to be pessimistic about the future, according to the latest report by research firm Nielsen. Its global survey on spending intentions found that consumer confidence in Singapore remains at its lowest, in more than two years. Singapore's Consumer Confidence Index stood at 94 points. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism, respectively. The survey, conducted between November and December last year, revealed 29 per cent of Singaporeans thought the country was in economic recession. Of those who believed so, 44 per cent said Singapore would not come out of recession this year. Fifty-five per cent also revealed pessimism over job prospects. The figure is higher than 47 per cent who thought so, in the previous quarter. Most will hold back on their spending. Some 70 per cent of responden...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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