What Singaporeans are saving and splurging on

SINGAPORE (Aug 2): No doubt, Singapore’s economy has seen some improvement in the second quarter with GDP edging up 2.2% from a year ago.

(See: Singapore’s 2Q GDP up 2.2% on year)

As such, it is no surprise that Singapore’s consumer confidence for 2Q has remained constant from last quarter at 88 points, based on the latest Nielsen Global Survey of Consumer Confidence and Spending results. Apprehension over an economic recession has also appeared to decline from 51% in the first quarter to 49% in 2Q.

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