India tops consumer index

India continues to be on top of the global consumer confidence index but, given the slowdown in discretionary spends, it has dipped by two points in the third quarter (Q3) of 2014, according to a Nielsen survey. India scored an index of 126 in Q3, followed closely by Indonesia (index of 125) in the second position and Philippines (115) in the third. In the online survey, which was conducted between August 13 and September 5, this year, over four in five (82%) urban Indian respondents indicated the highest levels of optimism globally on job prospects in the next 12 months, followed by Indonesia (80%) and China (74%).
Among the world’s biggest economies, consumer confidence increased four points in the US (108), one point in Germany (97), three points in the UK (93) and four points in Japan (77), from the second quarter. Meanwhile, consumer confidence in China held steady at 111 for the fourth consecutive quarter.
The latest results reflect an outlook of cautious optimism, as every region’s consumer confidence score improved compared to the previous quarter.
Specifically on discretionary spending and savings in India in Q3 of 2014, the survey stated that nearly three in five (59%) online respondents polled believe this to be a good time to buy things they want and need, which is a drop of 1% from last quarter (60%).