Half of Singaporeans have pessimistic financial outlook: survey

Here's why they think so.

According to a release by Nielsen, displaying signs of concern about their future financial security, only one in two Singaporeans (50%) had a positive financial outlook – down four points compared to Q1 2013. Singaporeans are less optimistic about their personal finances than most other countries in Southeast Asia, and scored four points below the global average of 54 percent.

Luca Griseri, Head of Financial Services, Nielsen Singapore and Malaysia, comments: “The Q2 Consumer Confidence results tie in with the moderate GDP growth that Singapore experienced in the first quarter of this year.

It will be interesting to see whether the recently announced, higher-than expected GDP growth in Q2 will influence consumers’ confidence in Q3 2013, or whether concerns about the impact of global economic conditions - such as the rebalancing Chinese economy - will continue to foster uncertainty in Singapore.”