India recorded the highest index score in consumer confidence in Asia-Pacific of 130, a one-point increase from the previous quarter and a level that has not been reached since 2011. Confidence in India has been on the rise for six consecutive quarters, according to the Nielsen Global Survey of Consumer Confidence and Spending Intentions. The Nielsen Consumer Confidence Index measures perceptions of local job prospects, personal finances and immediate spending intentions among more than 30,000 respondents with Internet access in 60 countries.
Consumer confidence in Asia-Pacific increased in nine of 14 markets in the first quarter, compared to only three that rose in the fourth-quarter 2014, according to survey. Nine markets also remained at or above the 100-baseline level of optimism.
“The urban Indian consumer started the year with positive sentiment in anticipation of improvement through reforms and stimulus announced by the new government,” said Piyush Mathur, president, Nielsen India Region.
“These initial signs of optimism reflect anticipation of economic recovery that are yet to manifest when you look at fast-moving consumer goods and auto sectors in particular over the last few quarters. Moreover, infrastructure, engineering and other industrial sectors are yet to gather pace. The fall in inflation is expected to have an impact on disposable income over time, but it will take time for the sectors to be restored to perceptible and sustainable growth.”
Big index increases were reported in Taiwan, where confidence rose 11 points to 88 - the highest score since 2011 - and in Japan, which rose nine points to 88 - the highest score for the country recorded by Nielsen since 2005.
Vietnam and Malaysia also reported strong confidence boosts of six and five points, respectively, in the first quarter. Vietnam’s rise to a score of 112 is the third consecutive increase and the country’s highest score since 2010. Conversely, China’s index fell one point to 106 in the first quarter, which comes after a four-point decline in fourth-quarter 2014.
Global consumer confidence started 2015 with an index score of 97 - an increase of one point from fourth-quarter 2014 and from a year-ago, according to the survey.
