India tops consumer confidence index for a second year

At second and third places are Norway (134) and Denmark (129). Other markets worth watching are Vietnam — which recorded double-digit rise in its index from 106 in June last to 116 this time — and Thailand (107), representing the greatest increase of 12 points from its last score, the survey firm said.

The study shows that Indians are exceedingly bullish about the job market with 95 per cent rating it excellent or good, as well as the state of their personal finances.

On the other hand, the world’s least optimistic markets hail mostly from Europe, though South Korea (with an index of 56) remains at the bottom of the list.

Across Asia-Pacific, Japan and Taiwan are among the least optimistic, recording an index of 71 and 80,

respectively. While confidence has sustained globally, consumers across the globe continue to cite the economy (39 per cent), health (34 per cent) and job security (32 per cent) as their major concerns over the next six months, although concern for the economy and health has declined moderately since the first half of 2006.

For Indians it is investment in shares and mutual funds that is the best tool to utilise spare cash, it said. From 40 per cent in the last cycle, 49 per cent of Indian consumers are now willing to invest in shares and mutual funds.

In fact, India is the nation where most number of consumers are willing to take the share market route. Next in the list is the urge to indulge in home improvement and decoration (39 per cent) and to buy new clothes (33 per cent).

“In the last few years, booming economy has made spare cash available to Indian consumers and unlike old days today’s consumer wants to live life to its fullest,” said Panchal.

However, for Indians it is the increasing number of terrorist attacks that has made terrorism (30 per cent) as the largest concern area — though globally, only 15 per cent of consumers considered terrorism a major concern, led by India (31 per cent), the UK (26 per cent), and Denmark (25 per cent).

Health too remains one of the top concerns for a third of world consumers, but the level of concern has declined substantially for Europe despite six of the top 10 most concerned markets originating from the region.