In a survey of six Asian countries, the third quarter report by research firm Insight Asia has found that Singapore was the most confident consumers while Thais were the least.
Vietnam ranked second, followed by China, Malaysia and Indonesia.
Overall, consumer confidence increased in Singapore, Thailand and Indonesia after a collective decrease in consumer confidence in the second quarter. Consumer confidence did not shift significantly in China and Vietnam. Malaysian confidence dropped for the second consecutive quarter but the overall sentiment is still positive.
Thailand shook off some of its pessimism, but despite a nine-point improvement, its consumer confidence index remains below the neutral point at 92, putting it as the country with the lowest consumer confidence.
In Singapore, the index rose 11 points from the second quarter of the year to 137 in the third quarter, making it the most optimistic in the region.
Retail confidence in China and Singapore was neutral with regards to buying major household items. Consumers in the other countries still feel it is a bad time for major purchases.
Economic confidence in Thailand has worsened over the past year, but was less negative than before. Consumers in Indonesia remain negative about the current state of the economy versus a year earlier.
Overall, consumers perceive that the economy has improved, though Malaysians are less positive than they were in the previous quarter. Consumers in Singapore have become more upbeat about the current state of the economy.
In all surveyed countries, consumers expect the economy to improve in the coming 12 months. Consumers in Vietnam, China and Singapore are most optimistic. The optimism is weakest in Thailand.
Financial satisfaction has improved in Singapore and Indonesia. Vietnam registered a slight decrease, but still maintains positive. Consumers in China were slightly dissatisfied, Thais were neutral, Indonesian consumers slightly positive and consumers in Singapore, Vietnam and Malaysia are satisfied with their financial well-being.
Generally, consumers across all six countries were optimistic about the future of their financial well-being in the next 12 months. However, this optimism decreased in Malaysia.
The Asian Consumer Confidence Index survey is conducted every three months. The survey of quarter three was conducted from 1 to 30 September 2010.