Indian consumers are the most optimistic lot in the Asia Pacific region, says a study that gauged their mood for the second half of 2009.
According to the MasterCard 'worldwide index of consumer confidence', India has the highest score among Asia-Pacific markets, with consumers being optimistic about employment, economy and quality of life.
"India in particular shines as one of the few markets with a lift in its consumer confidence score from six months ago. Its consumer confidence score increased from 63.9 six months ago to 68.0," the survey stated.
Indian and Chinese consumers' remain confident about the next six months, despite a widespread drop in consumer confidence across 16 markets in the Asia/Pacific, Middle East and Africa region.
In India, the three markets surveyed were New Delhi, Mumbai and Chennai. As per the survey, Delhi consumers are the most optimistic with an Index score of 79.3, up 25.2 points from 54.1 six months ago. Mumbai scored 61.7 points followed by Chennai which was marginally lower at 61.3, the survey revealed.
New Delhi experienced an increase in consumer confidence from 54.1 six months ago and 70.3 a year-ago.
"India in particular stands out, where consumer confidence actually increased compared to six months ago. Chinese consumers remain confident about their future, though the level of confidence has dropped compared with last year," MasterCard Worldwide in Asia/Pacific economic adviser Yuwa Hedrick-Wong said.
Overall, Indian consumer sentiments have gone up on three key economic indicators --- employment (60 as compared to 50.4 six months ago), economy (67.2) and quality of life (74.5).
However, outlook on other indicators has declined from six months ago, regular income (70) and stock market (68.3).
China has scored 60.8 and Vietnam (60.9) in the second half of 2009, they are less optimistic than they were six months ago (China at 76.6 and Vietnam at 88.1).
The survey is released twice a year and the index is based on a survey which measures consumer confidence on prevailing expectations in the market for the next six months.
It is calculated with zero as the most pessimistic, 100 as most optimistic and 50 as neutral.
Further, 10 Asia-Pacific markets are pessimistic about the second half of 2009, with Singapore (31.2), Australia (24.1) and Hong Kong (24.7) seeing biggest drop in confidence.
Meanwhile, the average consumer confidence score of markets in the Asia/Pacific (38.7) has dipped from six months ago (47.4) and a year ago (56.0), although it is higher than the 1997-98 Asian economic crisis average of 32.3.
