India Jobs Ache Din Aa Gaye
By Pulkit Sharma
Global consumer confidence increased 1 index point to 97 in the second quarter of 2014, the highest score since Q1 2007, according to research findings from Nielsen. This follows a 2 point increase at the start of the year that marked the global index’s first return to pre-recession levels. Also, half of global respondents believe the job market will be good / excellent in 2015.
The Nielsen Global Survey of Consumer Confidence and Spending Intentions, established in 2005, measures consumer confidence, major concerns, and spending intentions among more than 30,000 respondents with Internet access in 60 countries. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism.
Among the world’s biggest economies, consumer confidence increased six points over Q1 2014 in Italy (51), four points in the U.S. (104), three points in the U.K. (90), and one point in France (60). China’s consumer confidence remained flat at 111, while confidence declined eight points in Japan (73) and three points in Germany (96) compared to the previous quarter.
Regional consumer confidence increased three and two points, respectively, in North America (103) and Europe (77), compared to the first quarter. Confidence was highest in the Asia-Pacific region, which held steady from the first quarter at 106. Confidence declined over the previous quarter in Latin America (90) and the Middle East/Africa (93), decreasing three points and one point, respectively.
In Asia-Pacific, confidence in India (128) increased seven points over the previous quarter, the biggest increase of the 60 countries measured. Confidence also increased in the Philippines (120), South Korea (53), and Malaysia (93) and held steady in China for a third consecutive quarter at 111. Australia’s index (85) fell four points compared to the first quarter, its third straight quarterly decrease and the country’s lowest score since Nielsen began measuring consumer confidence in 2005.
In North America, U.S. consumer confidence continued an upward trend that began in first-quarter 2013 and has since registered an 11-point increase. Almost half of Americans (49%) believed it was a good/excellent time to spend, the highest level reported since 2006 and an increase of 6 percentage points from the first quarter. While the outlook for jobs (46%) was still below pre-recession levels (63%), the sentiment represents a significant improvement from the height of the recession in 2009, when it was at 20 percent. Confidence also increased in Canada, rising three points to 102 in the second quarter after declines over several previous quarters.
In Europe, consumer confidence increased in 72 percent of markets measured in the second quarter, with only six of 32 markets reporting declines. Denmark (106), Belgium (80), Romania (73), and Italy (51) were each up six points compared to the first quarter, and the Netherlands (81), Ukraine (61), and Croatia (50) each reported five-point increases compared to the previous quarter. Other notable confidence improvements included a year-over-year increase of 11 points in the U.K. to a score of 90—the country’s highest level since 2007. Russia’s index also increased for three consecutive quarters to a score of 85 in the second quarter. France’s confidence rose for the second consecutive quarter to 60.
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