Consumer outlook in Japan, US and Singapore

Japanese consumer sentiment remains weak.

Japan Nov consumer confidence index rises to 47.9 from 47.7 in Oct
Japan's consumer confidence index rose to 47.9 in November from 47.7 in October, the second straight monthly rise and the fourth in five months, the Cabinet Office said. Yet the survey also found that a majority of Japanese surveyed continue to hold a pessimistic outlook for their own economic wellbeing, indicating consumer spending may remain basically weak... The headline index and the four sub-indices all remained below 50 in November.

There is some improvement in the US.

US Consumer Sentiment Up in December
The University of Michigan's preliminary reading of its consumer confidence index for December was 95.7, up from November's final reading of 92.8, according to market sources who saw the subscription-only report. Analysts on average had forecast that the index would edge up to 93.5. The survey's index of current conditions gave a preliminary December reading of 106.8, up from a final November reading of 104.7. Its index of consumer expectations gave a preliminary December reading of 88.8, up from November's final reading of 85.2, market sources said.

Consumer sentiment in Singapore also looks as though it needs a lift.

Retailers say Singapore consumers remain cautious on spending
The Singapore economy may have been rebounding this year but retailers say consumers have remained cautious about spending. Retailers who have seen a pick-up in business tend to be those in tourist areas like Orchard Road.

If anything is going to perk up consumer sentiment in Singapore, however, it is not likely to be a booming property sector.

More than 18,000 homes lying vacant
Singapore has 18,689 vacant private homes - the highest figure in at least eight years... The stock of 18,689 empty private residential properties at Sept 30 is an increase of 4 per cent over the preceding three months, figures from the Urban Redevelopment Authority show... The pool of 18,689 empty homes at end-September translates to an overall vacancy rate of 8.5 per cent for the total stock of Singapore's 219,740 completed private homes.

Then again, a strengthening currency may help lift spending in Singapore, as with the other Asian countries.