Global consumer confidence declined by one index point in the second quarter according to the Nielsen’s Consumer Confidence Index Report, with consumers in the Asia-Pacific region being the most optimistic globally.
Confidence among consumers in Thailand, according to the report, declined by three points to 111, the same numerical drop as in Singapore (from 123 to 120) as a result of a pessimistic view of economic conditions for the remainder of the year.
The Index measures perceptions of local job prospects, personal finances and immediate spending intentions among more than 30,000 respondents with Internet access in 60 countries. The global survey was fielded during mid-May, 2015 at the time when news of the Greek debt crisis was developing.
“Contrasts within and across markets continue to be a dominant feature of the global economy,” said Louise Keely, Senior Vice President, Nielsen, and President, The Demand Institute.
“Consumer confidence in Eurozone markets has been relatively stable, with the notable exception of Greece. While quantitative easing is largely viewed as doing as intended, Europe is now moving through the Greek debt crisis. A relatively strong starting point for confidence will support consumer spending as the crisis unfolds.”
Reversing the performance at the start of the year, consumer confidence in the Asia-Pacific region improved in four countries during the second quarter, while it declined in nine others.
The Philippines showed the biggest quarterly confidence increase of seven index points, rising to a score of 122 – the country’s highest level on record. Confidence also increased one point each in India (131), China (107) and Japan (83) from the first quarter.
“In China, consumers’ desire to spend is growing, especially in the lower-tier cities and in the rural parts of the country,” said Yan Xuan, President, Nielsen Greater China.
“Higher income levels and growing e-commerce penetration in these areas represent important steps for increasing domestic consumption. The East China region is leading the country’s economic transformation with the highest confidence and spending intention levels and where online, offline, traditional and specialty channels are converging and driving upgraded product choices.”
The survey of consumer confidence and spending intentions polled more than 30,000 online consumers in 60 countries throughout Asia-Pacific, Europe, Latin America, the Middle East/Africa and North America. The sample has quotas based on age and sex for each country based on its Internet users and is weighted to be representative of Internet consumers.