Marginal drop in Consumer Confidence

30 Jan '08

3 min read

India dips two points to 133, in the recent leg of the Nielsen Global Consumer Confidence Index representing a dip for the third consecutive round since its peak score of 137 in late 2006. India, which had topped the twice-yearly Global Consumer Confidence Index conducted by The Nielsen Company five times in a row before, has moved to the second position with Norway being the first in the November 2007 survey.

This is in line with consumer sentiments worldwide. According to the latest Global Consumer Confidence Study conducted by The Nielsen Company, more than a quarter of global consumers expect a global recession in 2008, resulting in a dip in confidence in 21 of the 48 markets Nielsen surveyed. 27 percent of the Indian respondents too fear a global recession in the next 12 months.

In addition to India, Asia Pacific markets including Indonesia, Australia, Hong Kong, Vietnam, New Zealand and Singapore were all among the world's top 10 most optimistic - with Indonesia, Australia and Singapore in particular registering an increase in consumer confidence levels – making Asia Pacific the most optimistic region worldwide.

Job Prospects & Personal Finances:
Though the Consumer Confidence in India has dropped slightly, Indians are very optimistic about the local job prospects over the next twelve months. 38 percent Indian respondents consider job prospects in the country excellent and 57 percent respondents consider the job prospects good. With 95 percent, Indians are the second most optimistic people where the job market is concerned over the next 12 months.

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