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After seeing a temporary blip in the second quarter of calendar year 2016 (CY16), consumer confidence index of the country is back on the top.
Latest data released by market research agency Nielsen shows that India topped the list of countries with a score of 133, a point lower than the nine-year high of 134 in Q1 CY16.
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 just how strong consumer confidence is in India.
“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 Philippines 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 6% points to 84% in Q3 versus 78% in Q2.
Over 81% respondents indicated optimism over job prospects in the third quarter, higher than the 78% seen in Q2, Nielsen said.
“The positive sentiment is helped by delayed but good monsoons, 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 bounce back in the third quarter, following a muted second quarter,” he said.
Recessionary sentiment among Indian consumers was lower by 4% points at 54% in Q3, versus 50% in Q2. Among urban Indians, 68% say it is a good time to buy things, while 56% said they would spend on holidays and vacations.
India tops Nielsen consumer confidence index | Business Standard News
Latest data released by market research agency Nielsen shows that India topped the list of countries with a score of 133, a point lower than the nine-year high of 134 in Q1 CY16.
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 just how strong consumer confidence is in India.
“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 Philippines 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 6% points to 84% in Q3 versus 78% in Q2.
Over 81% respondents indicated optimism over job prospects in the third quarter, higher than the 78% seen in Q2, Nielsen said.
“The positive sentiment is helped by delayed but good monsoons, 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 bounce back in the third quarter, following a muted second quarter,” he said.
Recessionary sentiment among Indian consumers was lower by 4% points at 54% in Q3, versus 50% in Q2. Among urban Indians, 68% say it is a good time to buy things, while 56% said they would spend on holidays and vacations.
India tops Nielsen consumer confidence index | Business Standard News
