Monday, November 29, 1999

India``s consumer confidence rebounds in Q1: Nielsen

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Mumbai, May 9 (PTI) Consumer confidence in India rebounded to reach its highest level in the first quarter of 2010, providing the most definitive sign that India is fast recovering from the economic downturn, according to the latest edition of the Nielsen Global Consumer Confidence Index. "The rising confidence index shows a rebounding faith in economy and hope for a more optimistic future. India is one of the fastest growing markets in the world and the current consumer belief that recession would soon be a thing of the past has filled Indians with confidence," The Nielsen Company''s Managing Director - South Asia, Piyush Mathur said in a statement here. . What is still bothering Indians job scare and financial concerns are a thing of the recent past for Indians. It has been replaced by a concern for increasing food prices, which has beaten all other concerns and is the biggest concern (17 per cent) for Indians in the first quarter of 2010. In fact India tops all other countries where increasing food prices are concerned, it said. 42 percent Indians think that the country is under recession at the moment. Of these 68 percent Indian 1 of 4 consumers believe that the country will be out of recession in the next twelve months, making India the most optimistic country globally who believe that recession will be a thing of the past in a year''s time. With 127 index points, India ranked number one in the recent round of the survey, followed by Indonesia (116) and Norway (115), Nielsen said.

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