Local consumer confidence slips in Q4 on back of greater job security concerns

Almost 3 out of 10 consumers are worried over job security.

Consumer confidence in Singapore dropped by 3 points to 100 in Q4, after registering an exceptionally strong 103 points in the third quarter.

The Nielsen Global Survey of Consumer Confidence and Spending Intentions reveals that the slight dip in
consumer confidence is mainly driven by a 7-point decrease from the previous quarter in the number of
consumers who feel that future job prospects would be positive (54%). Job security ranks as the biggest concern for 28% of consumers in Singapore.

The number of respondents who claimed that their job prospects within the next 12 months are 'bad' ticked up to 5% from 3% in the previous quarter. Meanwhile, the number of respondents who stated that their job prospects are "not so good" also increased to 35% from 31%.

Consequently, the number of respondents who believe that they have "good" job prospects declined to 47% from 53% in Q3, while the number of those who claim that they have "excellent: job prospects slipped to 7% from 8% in Q3.