The latest MasterCard Worldwide survey on the purchasing priorities has suggested that citizens of Singapore are getting positive about the future once again, and a smaller number of them are planning to cut back on their spending. The survey, which took into account purchasing priorities of 401 consumers, found that 41 per cent would cut back on discretionary spending in the next six months.

The statistics came as a complete contrast to the previous survey conducted in September last year. During that time, the world financial system commenced its fall, and the survey found that 64 per cent Singaporeans were going to spend less over a one-year period. A little shift in the priorities has also been seen. The people of Singapore are making dining and entertainment a top priority.

The second place, in terms of priorities, was however maintained by fashion and accessories, which reflected the effect of retailers' price-slashing; and replaced fitness and wellness. The third place was maintained by personal travel. A 3.3 per cent and 1.1 per cent month-on-month increase in March and April, respectively, was displayed by retail sales, when they were excluded of motor vehicle sales, which make up about a third of spending.