India has topped the recently released 'Consumer Confidence Index' for second half of 2008. The Nielsen Global Consumer Confidence Index covers internet users around the world and is conducted every six months. The latest round was conducted in September-October 2008 across 52 markets across the globe. It may not be representative of the Indian population due to the low penetration of internet users in the country. However, the important findings of this survey are:
- India has emerged as the most optimistic nation with an index of 114 against the global average of 84.
- Despite the economic crisis 51% of Indians believe that the country will be out of recession in the next 12 months (Asia-Pacific average 22%).
- Indians believe in saving (58% would continue to put money into savings), they are also relatively insulated against the global financial turmoil due to the relatively nascent financial market.
- A majority 77% Indians believe that the state of their personal finances is excellent to good for the next 12 months.
- Indian spending is mostly directed towards new clothes, home improvement & technology products, while there has been a decline in spending for holidays and out of home entertainment.
- The top concerns for Indians are Economy (25%), Terrorism (24%), and Work life balance (21%).
The survey may be a pointer towards the revival of the Indian Economy in the second half of 2009.
1 comment:
We Indians are die hard optimists. I admire the courage of Indian investors buying the Satyam scrip even after Raju spilling the beans, and despite uncertain times ahead for the company
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