Economics
Singaporeans, Worried Over Jobs and Pay, Are the Gloomiest Since 2009
- Consumers will remain ‘rightfully’ cautious, ANZ Says
- Mastercard consumer confidence closely tracks island’s GDP
Commuters cross a road at night in the central business district of Singapore, on Wednesday, Oct. 28, 2015. Singapore's third quarter unemployment rates are scheduled to be released on Oct. 29 by the Ministry of Manpower.
Photographer: Sam Kang Li/BloombergThis article is for subscribers only.
Singaporeans are the most pessimistic about the economy in seven years as they’ve grown more gloomy about their quality of life, their income and job security.
Mastercard’s consumer confidence index for the city-state plunged to 33.6 in the first half of 2016, down from 44.3 for the previous six months, the company said in a statement on Aug. 11. It’s at the lowest level since June 2009, when the city’s gross domestic product contracted for four straight quarters.