Confidence, wages going up

A survey by American Express and CFO Research Services of finance executives found companies in Singapore are looking to boost spending in areas such as advertising, manpower, information technology and business travel.
A WAVE of optimism has swept through Singapore, according to a slew of new surveys out yesterday which indicated that confidence is riding high among both companies and consumers.
Businesses here are set to raise spending, and with it the salaries and bonuses of their staff, while consumers are as confident as they were before the global recession hit in 2008.
A Hay Group poll has forecast salary rises of 3.2 per cent on average here this year, two-thirds more than last year, and higher bonuses of an average of 2.5 months, compared with 2.1 months last year.
A survey by American Express and CFO Research Services of finance executives found companies in Singapore are looking to boost spending in areas such as advertising, manpower, information technology and business travel.
And a MasterCard consumer confidence survey showed consumer optimism is at its highest level in the past decade.
'Companies have moved from simply surviving the present to investing in growth for the future,' said Mr Andi Budd, American Express vice-president and general manager, Global Client Group, Global Commercial Card, Japan, Asia-Pacific and Australia.
Strait Times 20/5/2010