 "India bounces back on Nielsen consumer index")
Latest data released by market research agency Nielsen show that India topped the list of countries with a score of 133, a point lower than the nine-year high of 134 in Q1CY16.
The jump from Q2 (when India’s index was 128) is significant. Nielsen said it highlighted the confidence level among Indian consumers at the moment. The global consumer confidence average is only 99 in Q3, indicating how strong consumer confidence is.
“The latest score for India is the highest historically for the quarter, and reiterates renewed optimism levels as well. This is now back to first-quarter highs and is in line with the observation that the last quarter was a temporary dip. It is a testimony to the fact that the fundamentals of the economy remain strong,” Prasun Basu, president, South Asia, Nielsen, said.
The survey for the current index was done between August 2 and September 10, covering online respondents in 63 countries. The Phillipines and Indonesia come in at number two and three, with scores of 132 and 122, respectively.
Specifically, sentiment levels among Indian consumers about personal finance, Nielsen said, had improved by six percentage points to 84 per cent in Q3 versus 78 per cent in Q2.
Over 81 per cent respondents indicated optimism over job prospects in the third quarter, higher than the 78 per cent seen in Q2, Nielsen said.
“The positive sentiment is helped by delayed but good monsoon, controlled inflation, positive economic outlook, and the onset of the festive season,” Basu said.
“The fast-moving consumer goods market, in fact, shows a similar pattern of bounceback in the third quarter, following a muted second quarter,” he said.
Recessionary sentiment among Indian consumers was lower by four percentage points at 54 per cent in Q3, versus 50 per cent in Q2. Sixty-eight per cent of urban Indians say it is a good time to buy things, while 56 per cent said they would spend on holidays and vacations.
