While the Indian Consumer Confidence still ranks No 2, just behind Indonesia in the latest Nielsen Global Consumer Confidence Study released for Q2 of 2012. However, on the index, while Indonesia gained two point to score 120, India lost shed four points to have an index score of 119, as compared to the previous quarter. Behind India is Phillipines at 116. China scores an index of 105 points.
Meanwhile, the least consumer confidence was seen in Hungary, where the score stood at a mere 30.
“While there is no doubt the Indian economy is slowing down a bit and the country is adjusting to that new reality, the nominal GDP growth rates are still the envy of the developing world given the size and scale of the market,” said Piyush Mathur, president, Nielsen India Region.
“India’s consumer confidence remains amongst the highest of the countries tracked in the survey and while Indian consumers are getting more anxious about job prospects, rising inflation and a slowdown in the economy, when we look around the world, they still seem to be among the most optimistic,” he added.
In the latest round of the survey, conducted between May 4 and May 21, 2012, consumer confidence declined three points to 100 in Asia Pacific, four points to 88 in North America, and two points to 96 in Latin America. An increase of one point each in Middle East/Africa (98) and Europe (73) was reported. Overall, consumer confidence rose in 41 percent of global markets measured by Nielsen in Q2, compared to a 68 percent increase in the previous quarter. Confidence declined in 26 of 56 markets, increased in 23, and remained flat in seven.
See the report below: