India Has Highest Consumer Confidence
January 25, 11
 Indians feel more confident about their economic situation than any other nation |
The Nielsen Global Consumer Confidence Survey was conducted between September 3 and September 21, 2010 and polled over 26,000 consumers in 53 countries throughout Asia Pacific, Europe, Latin America, the Middle East and North America about their confidence levels and economic outlook.
India led the index with a score of 129 points, indicating that Indian consumers were the most positive in their outlook and the most likely to spend their money.
The country’s index score was, however well below its record rating of 137 in the second half of 2006. The Nielsen report notes that regionally, Asia Pacific was the world’s most confident region reporting an Index of 98, followed closely by Middle East/ Africa at 97 points.
Nine of the top 10 most confident nations are Asia Pacific countries: India, Thailand, Australia, Indonesia, Philippines, Singapore, China, Malaysia and Hong Kong.
The U.S. score of 81 was below the average 83 that had held for the past two and a half years. Europe also scored low, with Portugal scoring the lowest at 44.
According to the survey, for many consumers, spending on non-essential goods has become more restrained this year compared to the height of the global recession two years ago. Discretionary income reached an all time low for many consumers in the third quarter, with 27 percent of Americans, 19 percent of Europeans, 17 percent of Middle Easterners/Africans and 16 percent of Latin Americans left with no spare cash after paying essential living expenses.
The report may be read in its entirety here.