Consumer Confidence in Singapore is Looking Good

As determined by the latest Consumer Confidence Index (CCI) study, the consumer confidence in Singapore for the first quarter of 2013 is stable. In the first quarter of 2013, the CCI was at 96 points-one point higher than the previous quarter. So far, Singapore ranks 8th amongst 14 Asia Pacific economies (based on consumer confidence) leaving Vietnam, Taiwan, Japan and Korea behind. With 122 points, Indonesia ranks the first in Asia in terms of consumer confidence. The studies were done by Nielsen Company, an international information and measurement company. The Consumer Confidence Index is developed based on:

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Job market

Job market refers to the avenue of employers searching for potential employees and employees searching for prospective jobs. The market will develop or contract depending on factors like labour demand and supply. Higher CCI will be achieved if people are optimistic about job prospects.

Status of personal finances

Personal finance involves financial decisions of an individual or family. It encompasses obtaining of money, budgeting, saving and spending it. There are many services offered to give assistance in terms managing personal finances. Services include bank programs (savings, checking and credit cards), investment (in the form of stocks, bonds and mutual funds), insurance (like health and life insurance) and other sponsored programs (retirement plans and social security). Good outlook in terms of personal finances means higher CCI points.

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Readiness to spend

More spare cash means two things- readiness to spend or willingness to save and invest it. There are people that are keen about buying things they need and want while there are others that are adept at investing their money.

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