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India replaces Philippines as most confident country in terms of job prospects

Admin| Nov 02, 2016 - 10:00 AM India

India replaces Philippines as most confident country in terms of job prospects

India replaced Philippines as the most confident country in terms of job prospects, personal finances and immediate-spending intentions in the third quarter of current calendar year. 

India’s consumer confidence score climbed five points to 133, reclaiming its top spot in the global index from Philippines that scored 132 and Indonesia which had a score of 122, according to a Consumer Confidence Report, an online survey conducted by New York based research firm The Nielsen Company. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism, respectively. 

"The latest score for India is the highest historically for the quarter, and reiterates renewed optimism levels as well.The positive sentiment is helped by delayed but good monsoons, controlled inflation, positive economic outlook and onset of the festive season," said Prasun Basu, President-South Asia, Nielsen.

 

The report said India's personal-finance sentiment increased five percentage points to 83%, the job outlook increased four percentage points to 82%, and immediate-spending intentions rose four percentage points to 68%. In line with overall optimism, recessionary sentiment lowered by four percentage points to 50% However, 17% respondents indicated that job security continues to be their top ‘biggest concern’. 

Another important concern that emerged this quarter is that of terrorism which is up five points at 10% from last quarter in India. In fact, the entire Asia-Pacific region echoed the same sentiment at 11%, the highest percentage the region has seen in the seven years the sentiment has been tracked on the survey. 

As many as 68% urban Indians indicated that it’s a good time to buy things they want and need over the next 12 months. While 66% respondents believe savings are the best way to utilise spare cash, 56% prefer spending on vacations, 52% in technology and 48% would rather spend on clothing. 

The Nielsen Global Survey of Consumer Confidence and Spending Intentions, established in 2005, polled more than 30,000 respondents with internet access in 63 countries to measure the perceptions of local job prospects, personal finances, immediate spending intentions and related economic issues of real consumers around the world. 

Global consumer confidence increased one point from the second quarter to a score of 99. Confidence gains were seen throughout most measured markets in Asia-Pacific, Latin America and Europe. Meanwhile, confidence decreased in four of six Africa/Middle East markets and in one of two North American markets. 

 

 

 

 

Source: http://economictimes.indiatimes.com/jobs/india-replaces-philippines-as-most-confident-country-in-terms-of-job-prospects/articleshow/55183996.cms

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