Singapore consumer confidence eases in June after three months of gains

There’s still overhang from restructuring.

Singapore consumer confidence eased in June following three months of steady gains, the ANZ-Roy Morgan Singapore Consumer Confidence index showed today.

Consumer confidence decreased 0.3 points to 129.4 in June. Despite the decline, ANZ-Roy Morgan noted that this is still clearly above its long-term average of 122.6 and far higher than 118 points year ago.

“Exactly half of the respondents to our survey believe that Singapore will have good times financially over the 12 months ahead, and just under half feel that Singapore will enjoy good times during the next five years. These dynamics have been slowly and modestly improving over the life of our survey (18 months now) suggesting that the overhang of supply-side restructuring is only gradually fading,” said Glenn Maguire, ANZ Chief Economist for South Asia, ASEAN & Pacific.