India’s consumer confidence level goes up
With a majority of people having bullish opinion about job prospects, personal finances and their willingness to spend in the next 12 months, India has emerged as the second most optimistic nation across the world in terms consumer confidence level.
According to the survey conducted by global consultancy firm The Nielsen, consumer confidence in India is on upswing, registering a 13 point rise to 112 index points in the second quarter after Indonesia (113 points).
The survey states that the recent elections in India have had a positive effect on Indians’ sentiments towards its economy and with the UPA government back in power for the second term, consumers are more confident that political and policy continuity will help recover the Indian economy.
The consumer confidence in India witnessed an uptrend after three parameters viz., job prospects, personal finances and willingness to spend, witnessed significant rise.
In terms of job prospects also India ranked second after Indonesia.