Consumer confidence in India continued to rise in the second half of 2009, riding on optimism about employment generation prospects and growth in stock markets, a survey says.
According to the MasterCard Worldwide Index of Consumer Confidence survey, a widespread optimism was visible in consumers across Asia Pacific, West Asia and Africa markets for the next six months.
Consumers in India continued to be optimistic with a score of 68.8 on a scale of 0-100 compared to the previous six months' score of 68.0 and year ago's of 63.9, the report revealed.
Consumer sentiment in the country has gone up on three economic indicators such as employment, the stock market and regular income. Meanwhile, outlook on the other indicators such as economy and quality of life has declined from six months ago.
Globally, 21 of the 24 markets polled reflected positive consumer sentiment looking ahead with Vietnam (90.3), Nigeria (89.4), Qatar (89.2), United Arab Emirates (86.1) and China (85), topping the list.
"The global economy has started to stabilise in second half of 2009 and conditions have improved fast, especially in the Asia Pacific region. Overall robust rebound in consumer confidence in the region mirrors the progress in the real economy," MasterCard Worldwide economic advisor Asia/Pacific Yuwa Hedrick-Wong said.
Conducted bi-annually in selected markets in the Asia-Pacific, West Asia and Africa, the MasterCard survey analysed consumer perception of economic conditions in the next six months, it said.
In India, both Mumbai (79.1 as compared to 61.7 in the previous survey) and Chennai (95.2 vs 61.3) consumers have become more optimistic than they were six months ago. However, New Delhi (49.4 vs. 79.3) has experienced a dip in consumer confidence score, while a new market, Bangalore (47.2) has been added to the list of markets surveyed in India.
Besides, consumers in China were more confident about the next six months than they were six months ago (60.8) and a year ago (76.6).
This is significantly higher than the Asia-Pacific region average (66.3), the MasterCard survey stated. Developed markets in the region have seen a quick recovery in consumer confidence.
