India beats world’s biggest economies like Germany and the United States to become the most confident consumer in the third quarter of 2015, according to a recent survey conducted from May 11 to May 29, 2015.
India tops the list in terms of consumer confidence in the July-September period. An online survey conducted by The Nielsen Company reveals the Asia-Pacific region remains steady and scores 107 points while global consumer confidence declines one index point.
Europe gained 2 points to reach its highest score since 2010: 79. However, consumer confidence declined in Middle East/Africa (2 points/94), Latin America (3 points/83) and North America (5 points/101).
The largest economies in the world, Germany (97) and the U.S. (101) remained at near or above the baseline levels. Consumer confidence increased in China (107), Japan (83) and the United Kingdom (99).
India scored 131, the highest level among 60 markets. The next top countries are the Philippines (122), Indonesia (120) and Denmark (112). South Korea obtained the lowest score (45) while Greece showed the biggest quarterly decline (12 points). The biggest quarterly improvement happened in the Philippines (7 points).
Nielsen India Senior Vice President Roosevelt D’Souza said India’s economic future seemed unshaken despite volatile job markets, weak economic indicators and poor monsoon. “Indian consumers continue to declare a resilient outlook in the face of uncertainty in the broader economy,” the Wall Street Journal quoted D’Souza as saying.
The top 10 countries also include Thailand (111), the United Arab Emirates (108), Saudi Arabia (105), Hong Kong (105) and Vietnam (104).