Indians most confident of economic recovery

Globally consumer sentiments are positive, with the Global Consumer Confidence Index, rising to 82 - an increase of 5 points (from 77) from March 2009. This has been spurred by renewed consumer optimism and stock market gains in BRIC markets (Brazil, Russia, India, and China) and key Asian countries.   

According to the researc, by market rersearcher AC Nielsen, at 66-per cent, Indians are the most optimistic that India would be out of an economic recession in the next 12 months, this is the highest percentage for any country globally that thinks recession would be over in the next 12 months.

An astonishing 38 per cent think that India is not facing an economic recession, the third highest group by country.

The survey, which polled 14,029 online consumers in 28 countries late in June, 62 per cent Indians thought their country was in recession - a reduction of 10 points from a high of 72 per cent when the survey was conducted in March 2009.

''The recent elections in India have had a positive effect on Indians' sentiments towards its economy," says Vatsala Pant, associate director, consumer research, The Nielsen Company.

Pant adds, "With the UPA government back in power for the second term, consumers are more confident that political and policy continuity will help recover the Indian economy.  Indian stock markets saw a rise soon after the elections, projecting the all round confidence of Indians in the economy and their belief that the downturn would soon see a welcome change.''