India has once again emerged as the most optimistic market in terms of consumer confidence, but there is still some amount of cautiousness when it comes to spending spare cash, said a Nielsen survey.
This is the ninth consecutive quarter wherein India has retained the tag of the world’s most optimistic market with an increase of one point in consumer confidence to 123.
“India once again topped the global index indicating a high level of confidence amongst consumers, who are optimistic yet cautious,” said Justin Sargent, managing director, Nielsen India.
“This optimism is reflected in Indian consumers’ increased confidence in job prospects, which is a good sign for the economy. However, job security is still a cause for concern and consumers are still cautious when it comes to spending spare cash,” he added.
India is followed by Saudi Arabia at 119. Indonesia and the Philippines shared the third most optimistic nation tag with an index point of 118.
Meanwhile, Hungary was the most pessimistic market with 32 index points, followed by Greece (37) and Portugal (39).