Consumer confidence in India drops in April-June: Nielsen

NEW DELHI: Consumer confidence in India dropped eight percentage points in the second quarter of 2017 from the previous poll conducted by global information, data and measurement company Nielsen in the fourth quarter of 2016.

Nielsen attributed the fall in its latest Consumer Confidence report to lower optimism on job prospects, concerns around job security and a caution in spending.

According to the report, sentiment levels on local job prospects over the next 12 months fell to 76% for the second quarter of 2017.

India dropped from the top spot globally, but at No. 2 on the index it continued to reflect high confidence that it has held for the past three years among 63 countries that Nielsen covers in its Consumer Confidence Index built on an online survey every quarter since 2005, the company said.

The survey was conducted between May 20 and June 10. “India returns to the second position globally as in the same period last year (Q2 2016) and with same levels of confidence, dropping from the No. 1 position in the recent quarters.

This quarter’s dip is primarily attributed to lower optimism levels on job prospects, concerns around job security and a caution in spending over the end 2016 period,” said Nielsen South Asia president Prasun Basu.