Global Consumer Confidence Index

India, Indonesia and Norway continued to top the global rankings for the most-confident nations, while the most pessimistic nations were Latvia and Japan, says the Nielsen Global Consumer Confidence Index, which jumped from 77 index points in April to 86 points this month. Among other BRIC nations, consumer confidence rose 8 points in India,6 points in China and 4 points in Russia compared to the previous quarter.Consumer confidence fell in only two countries such as Spain (-4) and Japan (-2) in the third quarter: Nielsen's Global Consumer Confidence Index tracks consumer confidence, major concerns and spending habits among more than 30,500 Internet users in 54 countries.
In the latest round of the survey conducted between September 28-October 16, Hong Kong posted the largest consumer confidence increase in the third quarter compared to second quarter, up 14 points from 79 to 93 index points, followed by South Korea (+13 points) and Brazil (+12 points).Along with the rest of the world, consumer sentiments in Singapore also improved by nine points in the last quarter to hit 96.
"A nine-point surge in consumer confidence signifies a welcome return to positive territory . It really demonstrates that in the last six months, a majority of consumer sentiment across the globe has shifted gears from recession to recovery--the tide has turned," said Paul Richmond, managing director, consumer group, Nielsen Company, Singapore and Malaysia.
Nielsen's global consumer confidence in October rebounded to almost the same level as the first half of 2008 before the very worst of the financial crisis hit global markets. "The survey shows how much the pace of economic recovery has accelerated in the last six months,especially in Brazil and some Asian markets," said Richmond. In the recent survey 66% of global consumers said their economy is in recession compared to 71 in April 2009, but for many consumers in Asia-Pacific and Latin America, the recession is becoming past tense.Amongst the Chinese, 87% said their nation is out of recession, while over 60% of citizens in Hong Kong, Norway and Australia said the same. Meanwhile, half of Brazilians, Indians and Chileans also believed that the recession has ended.Among consumers who say they are still in recession, one in five (26%) expect that their country will be out of recession within 12 months.
While global consumers continue to voice concern about job security and the economy, many have started to focus on other issues.Worry about job security has decreased over the past six months. In April, 20% global consumers named job security as their main concern in life, closely followed by the economy (19%). Today, 18% of global consumers say the economy is their prime concern, followed by job security (16%).

No comments: