SensingSG is back with its Q32024 data wave, having conducted fieldwork in the final week of September, and we find that the optimistic vibes we saw in Q2 have continued unabated, especially in relation to economic sentiment. Elsewhere, we see the Good Governance Meter stay steady overall, albeit with some shifts on individual issues, while our Media Monitor surprisingly finds that the trial and imprisonment of a former Cabinet Minister raised barely a shrug. 

“Things Going Just Fine”, say Citizens 

Most SensingSG’s key measures on community sentiment are trending positively (all trend comparisons are quarter-on-quarter, unless specified): 

• 86% (+2pts) say the country is heading in the right direction, with the under-30s particularly optimistic (93%). 

• 82% (+1pt) are satisfied with how things are going today, and, again, youthful optimism shines through here – community satisfaction is 91% for under-30s. 

• On national economic conditions, 81% (+4%) say things are quite good or better; and 52% (+8pts) expect things to improve further in the next 12 months. 

People Mostly Happy With Personal Finances Too 

• Drilling down to personal finances, 76% (+8pts) rate their personal financial situation as quite good or better, and 50% (+7%) expect themselves to be in a better financial position a year on from now.  

• This sentiment changes dramatically depending on age group, however, with 73% of under 30s expecting financial gains contrasting strongly with only fewer than 2-in-5 over-50s thinking the same. 

Dial (Almost) Unmoved on the Good Governance Meter 

The uptick in community sentiment is not reflected directly in the Good Governance Meter, however, which stays steady with a GGM score of 65 (-1pt) for Q32024. The GGM measures governance satisfaction across 26 community issues, so amid such a widespread boost in economic sentiment, this illustrates the challenge of maintaining and growing citizen satisfaction across all governance touchpoints. 

There were very few notable shifts in satisfaction scores across the 26 community issues this quarter, much less so than in our previous waves, which indicates a stable period for the government. The only area to register a significant GGM score change this quarter was Public Transport, which dipped -9pts to 69% following the debacle on the East-West MRT line, which left commuters without service across a large stretch of the line for a week. 

Digital Government Services saw a dip of -4pts too, which is worth noting and was most likely driven by the Mobile Guardian issue returning to the news cycle following parliamentary discussions early in September. 

Year-on-Year Gains Suggest Cost-of-Living Crisis Being Wrestled Under Control 

While the quarter-on-quarter sentiment may not have revealed many significant shifts, things become more enlightening when we look at year-on-year data, now that we have completed four waves of SensingSG. 

The following are all Sep 23 vs Sep 24 changes in Good Governance Meter scores: 

• Cost of Living: 27% to 37% (+10pts) 

• Housing Affordability: 38% to 46% (+8pts) 

• Salaries and Wages: 46% to 55% (+9pts) 

• Gap Between Rich and Poor: 35% to 44% (+9pts) 

• GST: 34% to 44% (+10pts) 

While all of these measures still rank below the overall current GGM score of 65, these annual trends do show some heartening signs for the government. The economic mood was sombre this time last year amid a severe cost-of-living crunch – as we reported on at the time – and the big swings above point to a cautious return of optimism towards both personal and national economic prospects. 

It is difficult to disentangle improvements in the macroeconomic environment from direct governance measures in determining what has driven this surge in satisfaction – it’s a mix of both, really. Yet it is fair to say that direct intervention across all of these areas have had the desired effect – at least in terms of how it has impacted public sentiment, if not always the underlying economic conditions themselves. The GST rise has been mitigated by substantial GST voucher handouts, a swathe of cost-of-living handouts have been distributed throughout the year, and the housing market has once again seen hands-on intervention. Perceptions on salaries and the rich-poor gap have understandably softened alongside these wider financial improvements. 

Iswaran Trial Fails to Capture Attention 

In the Media Monitor, which tracks the most attention-grabbing stories of the previous quarter, we surprisingly find that barely half of Singaporeans followed the Iswaran trial and sentencing story closely (52%). This placed it in third place behind PM Wong’s first National Day Rally speech (61% interest rating) and fears of Mpox outbreaks (60%) as the most followed stories of the period.  

Notable too is that despite commanding both media headlines and debate in Parliament, neither the new CPF law for gig workers or the sale of NTUC Income captured the close interest of even half of the population. 

Note: The fieldwork was already underway before the East-West MRT line shutdown, which would otherwise almost certainly have captured first place in the Media Monitor. 

Decision Intelligence: Three Key Takeaways from SensingSG 

1. Sustained Economic Optimism: In the previous quarter, we attributed some of the rising optimism to a feel-good factor following a positive Budget announcement and new PM Lawrence Wong taking over the hot seat. Three months later, we see that positive sentiment around both personal finances and the national economy is becoming sustained – no mean feat in a country regarded as one of the world’s most expensive and where inflation and cost-of-living continues to bite. 

2. Good Governance Making an Impact on Containing Cost of Living Crisis: Year-on-year comparisons show significant improvement in key areas like cost of living, housing affordability, GST, and wages. These gains suggest that government interventions are easing financial pressure, even if the respective satisfaction still lags behind the overall governance average. 

3. Media Monitor Highlights Where Citizen Priorities Lie: The lukewarm public interest in the Iswaran trial, despite its political significance, underscores that Singaporeans prioritize issues directly impacting their daily lives. The National Day Rally and public health concerns like Mpox garnered more attention, reflecting a preference for stories with tangible social or personal relevance over political scandals. 

Blackbox Research is Southeast Asia’s leading market research agency, delivering decision intelligence on the pressing matters that matter most to the people of the region.

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