Consumer confidence fell across major emerging economies China,India and Brazil in the second quarter,according to a survey by global information company Nielsen.
A worsening euro zone crisis,sluggish US jobs growth and slowing growth in China and India combined to dent consumer confidence globally in the second quarter with concern over the economic outlook and job security the biggest concerns.
It also showed that Indonesians have overtaken Indians as the most upbeat consumers. Global consumer confidence dipped in the second quarter from the previous three months,the survey said.
According to Nielsen,53 per cent of global respondents were optimistic about their personal finances,but that was down 2 percentage points from the first quarter.
Asia-Pacific respondents reported the biggest decline in favourable financial perceptions,declining four points to 59 per cent. The Nielsen Global Consumer Confidence Index dipped 3 points in the second quarter to 91. A reading below 100 signals consumers are pessimistic about the outlook.
There was however no increase in the number of consumers who said they were in recession,which stayed at 57 per cent.
Things are not necessarily getting worse for the average consumer,they just arent getting better. That number could change depending on how the situation in Europe evolves, said Venkatesh Bala,chief economist at The Cambridge Group.
The survey was conducted between May 4 and May 21 among more than 28,000 consumers polled on the Internet across 56 markets. US confidence fell to 87 per cent,one of the biggest decreases globally.