India leads in consumer confidence in Sep quarter: Nielsen

While India topped the global list, 54% respondents polled during the quarter said India's economy was still in the slowdown zone

For the sixth straight quarter in a row, India led the global consumer confidence index with a score of 131, according to Nielsen. This is the second straight quarter that India's confidence index is at 131. The countries that followed India in the third quarter included the US (119 points), the Philippines (117) and Indonesia (116).

While India topped the global list, 54 per cent respondents polled during the quarter said India's economy was still in the slowdown zone. This was higher than the June quarter, when the figure was 50 per cent, Nielsen said.

While consumers seemed less upbeat about the economy's current state, they remained hopeful, Nielsen India region senior vice-president Roosevelt D'Souza said about how the environment would pan out in the future.

"Discretionary spending is looking up, even when compared to the same period last year among urban respondents. At the same time, there is a cautionary tone as is evident in their savings intent," he said, adding the ongoing festive season might lend some buoyancy to sentiments.

Two-third online respondents indicated this was a good time to buy things they wanted and need, D'Souza said, which was a good sign.

There was a general uptick in intent on utilisation of spare cash with 70 per cent of online respondents indicating they would invest in savings this quarter, D'Souza said. "Two in five respondents (37 per cent) are looking to invest in retirement funds this quarter," he said, adding this trend was growing steadily over the past few quarters.