India tops confidence index for Q2

 India continues to lead the global confidence index for the second quarter of 2015, with a one point increase from last quarter (Q1) to 131 followed by Philippines (122) and Indonesia (120). The consumer confidence in urban India reflects levels last achieved in the first quarter of 2011, which, according to Nielsen, has been propelled by a positive growth in consumer spending on consumer packaged goods and a gradual decrease in job security concerns Stock Market Trading Tips

Half of respondents (50%) polled said they feel India is still in economic recession, up six points from last quarter (44% in Q1 2015). However, three in five (61%) indicate that India will be out of the recession over the next 12 months. 

In the latest online survey conducted in May, over four in five (81%) urban Indian respondents indicated the highest level of optimism globally on job prospects in the next 12 months. ``The optimistic trend in consumer sentiment continues, and this quarter reflects the highest levels since 2011. While this is positive new, discretionary spending levels are yet to see a huge transformation," said Piyush Mathur, president, Nielsen India Region. 

There are signs of a positive growth in consumer spending on consumer packaged goods, indicated by a slight increase in growth compared to the previous quarters. There has also been a gradual decrease in concerns on job security over the last few quarters along with interest rate cuts, and an increase in intention for home loans - thus enhancing the sentiment on the economy and portraying an optimistic picture for the future,'' said Mathur Himanshu Tiwari Astrologer

Over three in five (65%) online respondents polled indicated this is a good time to buy things they want and need, but when it comes to investing spare cash, 60% of online respondents in India indicated it is a good time to put spare cash into savings, a dip of four percentage points from last quarter (64% in Q1 2015). 

The purchase intent for new technology products by urban online respondents stands at 48% this quarter. 44% indicate utilizing spare cash in shopping for new clothes, constant for the last three quarters. When it comes to creating a corpus of funds for the future two in five (39%) respondents indicated that they will invest in mutual funds, and 28 percent in a retirement fund. 

There is a higher degree of caution when it comes to spending habits, 80% respondents have changed their spending habits to save on expenses, five percentage points higher than the same period last year (75% in Q2 2014)  Financial Astrology

The top three avenues this quarter are saving on gas and electricity (46%), spending less on new clothes (43%), and cutting down on holidays and short breaks (35%). 

With regard to personal finances, 79% urban Indian respondents indicated that the state of personal finances was good or excellent in the second quarter of 2015, at the same levels as same period last year (79% Q2 2014). 

Outlook on jobs have improved, with only 17% of respondents indicating job security is the biggest concern, but the other big concern is sustaining a work-life balance (11%). 

The state of the economy (11%), increasing food prices (8%) are second biggest concerns for the quarter Personal Numerology