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| Consumers optimistic, says MasterCard survey |
| BS Reporter / Mumbai Dec 21, 2009, 14:42 IST |
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Consumers in India continued to be optimistic slightly more than what they were six months ago, a latest MasterCard Worldwide Index of Consumer Confidence survey, released today said.
"In India consumers are more optimistic than six months ago (68.0) and a year ago (63.9)," said the study.
Both Mumbai (79.1 vs. 61.7) and Chennai (95.2 vs. 61.3) consumers have become more optimistic than they were six months ago. New Delhi (49.4 vs. 79.3) has experienced a dip in consumer confidence score. A new market, Bangalore (47.2), is added to the list of markets surveyed in India.
Now in its 17th year, the MasterCard Worldwide Index of Consumer Confidence is the region’s most comprehensive and longest running consumer confidence survey. Released twice a year, the Index is based on a survey which measures consumer confidence on prevailing expectations in the market for the next six months based on five economic indicators: economy, employment, stock market, regular income and quality of life. The index score is calculated with zero as the most pessimistic, 100 as most optimistic and 50 as neutral.
Consumers across Asia/Pacific, Middle East and Africa markets are approaching the next six months with optimism, said the study. As the global economy recovers, 21 of the 24 markets polled reflected positive consumer sentiment looking ahead, including Vietnam (90.3), Nigeria (89.4), Qatar (89.2), United Arab Emirates (86.1) and China (85), which topped the list.
Developed markets in the region have seen a quick recovery in consumer confidence. United Arab Emirates leapt up in confidence with the largest Index score increase of the markets last surveyed six months ago (29.6 to 86.1). Sharp improvements were also evident for Singapore with a strongly optimistic Index score of 79.4, up from a pessimistic 31.2 in the previous survey, New Zealand (69.7, up from 21.5 six months ago), and Australia (69.5 from 24.1). Across the three markets, confidence in the economy and employment has improved dramatically.
Consumer sentiments have gone up on three economic indicators. Consumers are more optimistic about Employment (66.9 vs. 60.0 six months ago), the Stock Market (70.0 vs. 68.3) and Regular Income (70.5 vs. 70.0). Outlook on the other indicators has declined from six months ago: Economy (66.7 vs. 67.2) and Quality of Life (69.8 vs. 74.5).
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