The latest UOB ASEAN Consumer Sentiment Index shows that consumer confidence across ASEAN remains resilient in 2026, despite ongoing geopolitical tensions and rising oil prices. Singapore recorded the strongest improvement in the region, with its index climbing nine points to 56. This surge was driven by positive perceptions of both the current and future economic conditions, supported by government measures to alleviate cost-of-living pressures.
The index, which measures consumer sentiment across six key indicators, remained steady at 54 for the region. Vietnam, despite a four-point decline, remains the most optimistic market with an index of 63. Thailand also saw a rise, with its index increasing by four points to 51, buoyed by government stimulus measures and a robust tourism sector.
Suan Teck Kin, Head of Research at UOB, noted, “ASEAN-5 economies remained resilient in the first half of 2026, with Singapore and Thailand outperforming expectations.” He highlighted that ASEAN continues to attract multinational corporations, supporting employment growth and economic opportunities.
Conversely, Malaysia’s index eased to 50, reflecting concerns over household expenses and income security. Indonesia experienced a decline, with its index dropping to 49 from 55 the previous year.
The report underscores the varying economic conditions and consumer priorities across the region, with Singapore and Thailand’s strong performance helping to offset softer sentiment elsewhere. As ASEAN remains a compelling investment destination, consumer confidence is expected to continue playing a crucial role in the region’s economic landscape.
