Are global consumers really turning bullish?

Indian consumers remained bullish over the global markets by scoring the highest index of 126 according to a Nielsen Global Survey of Consumer Confidence and Spending Intentions.
Are global consumers really turning Bullish?

Indian consumers remained bullish over the global markets by scoring the highest index of 126 in a survey conducted by research firm Nielsen.

According to the Nielsen Global Survey of Consumer Confidence and Spending Intentions,.a decline of two points compared to the second quarter. Italy reported the lowest score of 47, a quarterly decline of four points, pushing the country towards its third year of recession.

In the online survey, consumer confidence increased in 65% of the markets measured by Nielsen, compared to 52% in the second quarter.

Among the world’s biggest economies, consumer confidence increased four points in the U.S. (108), one point in Germany (97), three points in the U.K. (93) and four points in Japan (77), from the second quarter.

Meanwhile, consumer confidence in China held steady at 111 for the fourth consecutive quarter.

Besides, the study revealed that people were more optimistic about job prospects than their personal finances. However, in North America and Europe that had been replaced by rising worries about war and terrorism.

Also, the European countries showcased a pessimistic consumer confidence, which clearly reflected the conflict in Ukraine and the risk of deflation in the euro zone. However, Britain and Germany saw consumer confidence improve.

Besides, the Nielsen Global Consumer Confidence Index rose 1 point in the third quarter to 98, according to the survey. The index has been steadily rising since the first quarter of 2012 and the latest reading headed closer to the 100 mark that signals optimism among consumers.

The US consumers were the seventh most upbeat globally, with their score rising 4 points to 108 as optimism about job prospects continued to surge. Americans were also slightly more upbeat about the outlook for their personal finances than they were in the second quarter.

Commenting on the research, Louise Keely, a senior vice-president at Nielsen, said: "The US consumers are now feeling far more confident than in previous years of the recovery due to consistently good job market trends, reflected in steady payroll growth and falling unemployment over the course of 2014."

"They are also benefiting from lower gasoline prices and a gradually improving housing market. In the coming months, as we start to see more people re-entering the workforce and meaningful wage growth, this is likely to translate into broad-based gains in consumer spending," she added.

Australia witnessed the biggest increase in confidence from the previous quarter, by 12 points, followed by Slovenia with a 9-point increase and Thailand with 8 points. However, Chile posted the sharpest drop in confidence, by 7 points, followed by the Philippines with a 5-point decline and 4-point decreases for Italy and Ukraine.

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