The Nielsen Global Consumer Confidence Index for Q1 2010 shows that confidence rose in 41 of the 55 countries surveyed. Global average is 92 points for Q1, up six points on the end of 2009.
Asia-Pacific's accelerated recovery
While all regions saw improvements, the gap between Asia-Pacific (including India) and Europe has grown as Asian recovery accelerates. Asia Pacific average is 99 points, versus Europe's 78.
"Asia Pacific consumers who were among the first to cut back drastically on discretionary spending 18 months ago are now confident enough to spend their way out of recession," Venkatesh Bala, chief economist at Nielsen.
Indian consumer is the most confident
India reclaimed top spot from Indonesia with a score of 127 (up from 120). Nielsen highlight growth in FMCG sales in highly populated rural India - up 18% in 2009, versus 11% in urban India - as proof that further growth in confidence is likely.
The survey of more than 27,000 consumers in 55 countries, showed consumer confidence declined in seven of 28 European countries, with Greece not surprisingly reporting the largest fall.
Top 10 markets where consumer confidence is highest
Q1 2010 (Q3 2009)
- 1. India 127 (120)
- 2. Indonesia 116 (115)
- 3. Norway 115 (110)
- 4. Philippines 111 (107)
- 5. Australia 111 (106)
- 6. Saudi Arabia 108 (79)
- 7. Brazil 108 (108)
- 8. China 107 (101)
- 9. Singapore 107 (96)
- 10. United Arab Emirates 103 (102)
Image source - Nielsen
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