Consumer confidence rebounds in Singapore: Survey

19:10, January 07, 2010      

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Consumer confidence in Singapore has rebounded to levels last seen in 2008, as people approach the next six months with optimism, local media reported on Thursday.

Survey findings from the latest MasterCard Worldwide Index of Consumer Confidence, revealed a significant jump in consumer optimism to 79.4. This is more than double the 31.2 reading taken six months ago, according to local radio 938live.

Consumers in Singapore are optimistic in their outlook towards the economy, employment, stock market, quality of life and their expectations towards receiving a regular income.

MasterCard Worldwide's economic advisor, Yuwa Hedrick-Wong, said, the overall robust rebound in consumer confidence in Singapore reflects the strong progress seen in the real economy.

Despite their optimistic outlook, consumers remain pragmatic about saving for a rainy day. Consumers are also saving for retirement, investments, buying consumer electronics and traveling.

Source: Xinhua
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