Indians are still the most optimistic in the world about their job prospects over the next twelve months although their confidence levels over their country's economy and spending have not risen further in the third quarter of 2010, according to a Nielsen survey released on Monday.
According to the Nielsen global consumer confidence survey, more than nine out of ten Indians (91 per cent) are optimistic about their job prospects in the next twelve months. This is a percentage point lower than the last leg of the survey but India still tops the list of nations that think their job prospects are excellent or good in the next twelve months.
Singapore (78 per cent) and Thailand (77 per cent) are the next most optimistic nations.
"Indian consumers are confident about their economy and have shown similar confidence levels as the second quarter of 2010. However, these levels have not increased like they did in the first two quarters of 2010," The Nielsen Company managing director (consumer) Justin Sargent said.
"This is better than the other countries, which have shown a dip in confidence. The global consumer confidence fell three points in September as consumers' hopes for a full economic recovery this year fades in most parts of the world," it adds.
It points out that the confidence that Indians have in their job prospects also translates into optimism on the financial front for them. More than eight in ten Indians (83 per cent) are optimistic about their state of personal finances in the next twelve months, the highest percentage globally. Indonesia (80 per cent) and Denmark (77 per cent) are the second and third most optimistic nations, respectively, in terms of their personal finances in the next 12 months, the survey adds.
An optimistic outlook in terms of job prospects and personal finances gives Indians the confidence to spend. In Q3, nearly six out of 10 Indians feel that it is a good time to buy things.
The survey polled 26,000 consumers in 53 countries. India's index stood at 129 compared to the global index of 90.
Courtesy: Mail Today
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