Consumer sentiment rising in India: MasterCard survey
The Financial Express, December 22, 2009, Page 11
fe Bureau, Chennai
Consumers across Asia Pacific, West Asia and Africa markets are approaching the next six months with optimism, according to the latest MasterCard Worldwide Index of Consumer Confidence survey, released on Monday.
As the global economy recovers, 21 of the 24 markets polled reflected positive consumer sentiment looking ahead, including Vietnam (90.3), Nigeria (89.4), Qatar (89.2), United Arab Emirates (86.1) and China (85), which topped the list.
Consumers in India continued to be optimistic. They are slightly more optimistic than six months ago (68.0) and a year ago (63.9). Consumer sentiment have gone up on three economic indicators. Consumers are more optimistic about employment (66.9 vs 60 six months ago), the stock market (70 vs. 68.3) and regular income (70.5 vs. 70). Outlook on the other indicators has declined from six months ago: Economy (66.7 vs. 67.2) and quality of life (69.8 vs. 74.5).
Both Mumbai (79.1 vs 61.7) and Chennai (95.2 vs 61.3) consumers have become more optimistic than they were six months ago. New Delhi (49.4 vs 79.3) has experienced a dip in consumer confidence score. A new market, Bangalore (47.2), is added to the list of markets surveyed in India.
Developed markets in the region have seen a quick recovery in consumer confidence. United Arab Emirates leapt up in confidence with the largest Index score increase of the markets last surveyed six months ago (29.6 to 86.1). Sharp improvements were also evident for Singapore with a strongly optimistic Index score of 79.4, up from a pessimistic 31.2 in the previous survey, New Zealand (69.7, up from 21.5 six months ago), and Australia (69.5 from 24.1). Across the three markets, confidence in the economy and employment has improved dramatically.
The Asia Pacific region saw an increase in its consumer confidence index score from six months ago (66.3 up from 38.7). Vietnam (90.0), China (85.3) and Singapore (79.4) reflected significantly higher consumer confidence compared to other markets in the region. Most markets showed increased confidence in their employment outlook, particularly Vietnam and Singapore, which topped the region for confidence in this indicator.
Japan (24.4), which has been pessimistic in its outlook for 30 of the 34 surveys since the inception of the index, continued this trend - more than one in three Japanese consumers expect the economy to be worse in the next six months. Philippines (49.7) hovered near the neutral mark, pulled upwards by a positive outlook towards regular income for the six month period ahead.
Markets in the West Asia seemed to be tracking to 2008 levels of optimism with the current index score of 74.5. The consolidated Index score across the six West Asia markets surveyed was much higher than that of six months ago (49.9) and even a year ago (72.7). Sentiment were particularly strong in Qatar (89.2), UAE (86.1) and Saudi Arabia (83.2).
The Financial Express, December 22, 2009, Page 11
fe Bureau, Chennai
Consumers across Asia Pacific, West Asia and Africa markets are approaching the next six months with optimism, according to the latest MasterCard Worldwide Index of Consumer Confidence survey, released on Monday.
As the global economy recovers, 21 of the 24 markets polled reflected positive consumer sentiment looking ahead, including Vietnam (90.3), Nigeria (89.4), Qatar (89.2), United Arab Emirates (86.1) and China (85), which topped the list.
Consumers in India continued to be optimistic. They are slightly more optimistic than six months ago (68.0) and a year ago (63.9). Consumer sentiment have gone up on three economic indicators. Consumers are more optimistic about employment (66.9 vs 60 six months ago), the stock market (70 vs. 68.3) and regular income (70.5 vs. 70). Outlook on the other indicators has declined from six months ago: Economy (66.7 vs. 67.2) and quality of life (69.8 vs. 74.5).
Both Mumbai (79.1 vs 61.7) and Chennai (95.2 vs 61.3) consumers have become more optimistic than they were six months ago. New Delhi (49.4 vs 79.3) has experienced a dip in consumer confidence score. A new market, Bangalore (47.2), is added to the list of markets surveyed in India.
Developed markets in the region have seen a quick recovery in consumer confidence. United Arab Emirates leapt up in confidence with the largest Index score increase of the markets last surveyed six months ago (29.6 to 86.1). Sharp improvements were also evident for Singapore with a strongly optimistic Index score of 79.4, up from a pessimistic 31.2 in the previous survey, New Zealand (69.7, up from 21.5 six months ago), and Australia (69.5 from 24.1). Across the three markets, confidence in the economy and employment has improved dramatically.
The Asia Pacific region saw an increase in its consumer confidence index score from six months ago (66.3 up from 38.7). Vietnam (90.0), China (85.3) and Singapore (79.4) reflected significantly higher consumer confidence compared to other markets in the region. Most markets showed increased confidence in their employment outlook, particularly Vietnam and Singapore, which topped the region for confidence in this indicator.
Japan (24.4), which has been pessimistic in its outlook for 30 of the 34 surveys since the inception of the index, continued this trend - more than one in three Japanese consumers expect the economy to be worse in the next six months. Philippines (49.7) hovered near the neutral mark, pulled upwards by a positive outlook towards regular income for the six month period ahead.
Markets in the West Asia seemed to be tracking to 2008 levels of optimism with the current index score of 74.5. The consolidated Index score across the six West Asia markets surveyed was much higher than that of six months ago (49.9) and even a year ago (72.7). Sentiment were particularly strong in Qatar (89.2), UAE (86.1) and Saudi Arabia (83.2).
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