India ranks second in consumer confidence level: Survey
Press Trust of India / New Delhi Aug 11, 2009, 18:45 IST
India has emerged as the second most optimistic nation across the world in consumer confidence level, with a majority of people having bullish opinion about job prospects, personal finances and their willingness to spend in the next 12 months, a survey has said.
According to the survey conducted by global consultancy firm The Nielsen, consumer confidence in India is on upswing, registering a 13 point rise to 112 index points in the second quarter after Indonesia (113 points).
"The recent elections in India have had a positive effect on Indians' sentiments towards its economy. With the UPA government back in power for the second term, consumers are more confident that political and policy continuity will help recover the Indian economy," The Nielsen Company Associate Director Consumer Research Vatsala Pant said.
The consumer confidence in India witnessed an uptrend after three parameters -- job prospects, personal finances and willingness to spend -- on which it is based, witnessed significant rise.
In terms of job prospects also India ranked second after Indonesia.
Regarding personal finances, Indians are the most optimistic globally as about nine per cent of Indians think that their personal finances would be 'excellent' in the next 12 months and 65 per cent consider they would be 'good'.
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