CONSUMER confidence in Singapore has dipped in recent months, according to a survey released yesterday.
The latest Nielsen study revealed that Singaporeans were slightly less upbeat in the second quarter of the year compared with the first three months.
The quarterly report showed that consumer confidence here fell two index points to 94 points in the second quarter, after an uptick in the first quarter.
A number above 100 indicates positive consumer sentiment, while a figure below 100 indicates pessimism.
Nielsen's managing director for Singapore and Malaysia Joan Koh said: 'The slight pullback in consumer confidence in Singapore is not a surprise, given the onslaught of negative news about the global economy and closer to home, uncertainties with the slowdown in China and India.'
Started in 2005, the Nielsen Global Survey of Consumer Confidence and Spending Intentions tracks consumer confidence, major concerns and spending intentions among more than 28,000 Internet consumers in 56 countries.
Globally, the Republic was 17th in terms of consumer confidence, together with Canada, Switzerland and Chile. Indonesia had the most confident consumers.
Back home, those surveyed were less bullish on the economy, with 31 per cent believing that the country is in recession, up 4 percentage points from the first quarter. Among those who think the economy is in recession, 29 per cent feel that it will rally over the next 12 months.
Most local consumers are also changing their spending habits to save on household expenses, with 62 per cent doing so, a figure unchanged from the first quarter.
Ms Koh said: 'We expect them to adopt various coping strategies such as value seeking, buying on promotions and delaying discretionary spending, to keep expenses reined in amid inflationary pressures and worries about the economy.'