Indians most upbeat about economy ahead
By agencies   |   Monday, 20 June 2005, 19:30 IST
Printer Print Email Email
MUMBAI: An online survey on Global Consumer Confidence and Opinions conducted by market research major ACNielsen said that 88 percent Indians felt that the economy would do well over the next 12 months. This was ahead of consumers in China and Hong Kong who polled 80 percent and 71 percent, respectively. Seventy-nine percent of Indian respondents also felt the economy had performed well over the last six months. “In the context of the global economy, this forms an important inflection point in our perception among the international investment community,” said Sarang Panchal, executive director (customized research services), ACNielsen South Asia. On issues like job prospects in the next 12 months, 18 percent of Indians believed that the prospects were “excellent”, while 69 percent felt the prospects were “good”. Among nations disillusioned with their local job prospects, Greece and Korea led the list. The ACNielsen Global Consumer Confidence Index added more stars to the Indian scores. Based on three parameters -job prospects, personal finance and spending desires -the index compared confidence levels across all countries. At the top of the index was India with a score of 127, followed by New Zealand with 119 and Ireland with 113. At the bottom of the scale was Korea, scoring an index of 58 (the global average score was 92). However, when it came to voicing their concerns, Indians were split in their opinion. Thirty seven percent cited the economy and job security, as being their most pressing concerns and these were the same parameters for which they had been extremely confident. “This apparent schizophrenic outlook can be explained by the fact that this phase of hectic growth in India is bound to attract a modicum of doubt about its sustainability,” said Panchal. This is the fifth edition of the survey, which looks at consumer confidence in the future of the economy, expenditure and saving patterns along with major consumer concerns. In the current study, 10 more countries have been included, as coverage has been expanded to cover 38 countries and 21,261 respondents.

siliconindia