Consumer Confidence Level
With the change of government at the Centre, the consumer confidence level in India jumped by seven points during the second quarter this year, bringing India to the top globally, global information and insights provider Nielsen has said in its recent study. According to a global study, India which was ranked second in the first quarter of 2013 is now the most optimistic country, followed by Indonesia and Philippines. Consumer confidence in India was indexed at 128 in Q2 2014, a seven-point increase from Q1 2013 (121). Consumers in India have indicated increased levels of confidence in the second quarter when the country's general elections were taking place, President, Piyush Mathur, said adding that the buoyancy is yet to translate into increased consumption across sectors. Despite the ongoing inflationary trend coupled with a poor monsoon, consumers are likely to open their purse strings as the country heads to the festive season in response to savvy marketing stimulus, he said.