'Indian consumer confidence tops world'
Consumer confidence in India in the third quarter of 2012 has gone down compared to last year and 62 per cent of them believe the country is going through an economic recession this quarter, according to provider of information and insights Nielsen.
Yet, Indians, along with Indonesians, continue to be the most upbeat globally, according to Nielsen Global Consumer Confidence Index.
The levels of optimism reported by Indian respondents this quarter are three points lower than the third quarter in 2011, where India was leading the global sentiment at 121 points, Nielsen said in a statement.
"More than three in five online respondents (62 per cent) said they believe India is going through an economic recession this quarter," it added.
In the same quarter last year, only 44 per cent of the respondents had felt India was going through an economic recession.
In the third quarter of 2012, India and Indonesia (119) reported the highest index scores globally, followed by Philippines (118), it added.
Commenting on the findings, Nielsen India Region President Piyush Mathur said: "While the second quarter of the year indicated a growing anxiousness amongst Indian consumers, the third quarter echoes that sentiment across key parameters for the Indian consumer today."
Although the sentiment of rising inflation combined with other economic and personal pressures have taken a toll on consumer confidence, the Indian consumer seems to have reconciled with the challenges, he added.
"In a typically resilient fashion, they have adopted various strategies to counter inflation through a much keener effort to seek better deals at
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