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Consumer confidence: India tops the Asian list

Last updated on: April 19, 2012 15:01 IST

A man shows balloons in the colours of the Indian flag to his child at a market during India's Independence Day.

India has been ranked as the most optimistic nation in Asia in a global consumer confidence survey released in Dubai.

At 81.2, in an index which is calculated with zero as the most pessimistic 100 as the most optimistic, India was the leader of the pack in Asia, said MasterCard Worldwide Index of Consumer Confidence.

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Consumer confidence: India tops the Asian list

Last updated on: April 19, 2012 15:01 IST

A man walks on a pedestrian bridge overlooking traffic in Lagos, Nigeria.

The index is based on a survey which measures consumer confidence on prevailing expectations in the market over the next six months, based on indicators such a economic growth, employment, stock market, regular income and quality of life.

It involved 12,915 respondents in 25 countries and recorded a three-point rise in West Asian consumer confidence from the previous six month period, bringing the index to (85.7), significantly higher than Africa (73.8) and Asia Pacific (52.1).

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Consumer confidence: India tops the Asian list

Last updated on: April 19, 2012 15:01 IST

Fog rolls by early in the morning, near the Dubai Marina construction and residential zone, in Dubai.

Nigeria (96.4) retained the top spot in Africa, followed by Morocco (87.2), said the survey carried out between December 5, 2011 and February 8, 2012.

In West Asia, Qatar and Oman topped the index with a remarkable score (93.6); followed closely by Egypt (88.3), Kuwait (88.3), Saudi Arabia (83.9) and the UAE (82.1).