LONDON (Reuters) – Consumers in principally countries globally look set to keep a tight grip on expenditure in coming months as they worry about job security and tumor inflation, a survey by the Nielsen Company showed on Sunday.
U.S. consumer assurance in the fourth quarter held steady from the third quarter except 45 percent of Americans see a weak economic environment this year, compared by 38 percent of Europeans and 19 percent of consumers in the Asia Pacific.
“The U.S. jobless impost remains at the heart of the issue for Americans,” afore~ James Russo, vice president of The Nielsen Company. “It has topped 9 percent conducive to 20 months straight, which is the longest streak on record.”
Consumer confidence was positive at the end of last year in only 14 on the ~side of 52 countries surveyed worldwide. The Nielsen Global Consumer Confidence Index’s medium score, however, was unchanged from the third quarter at 90, helped by sharp jumps in confidence in Norway, Turkey and Switzerland as well being of the kind which the Philippines.
A reading below 100 signals pessimism about the sight.
India came top, improving on its third quarter reading. Still, India’s director reading of 129 was well below the country’s make a memorandum of 137 index reading in the second half of 2006, the highest lecture for any country since the Nielsen consumer confidence index was launched in 2005.
Confidence was lowest in Croatia followed through Portugal, which has imposed austerity measures as it struggles to snap high debt.
Consumer confidence in Greece slumped from the third fourth part as the country continued to grapple with its debt burden though Ireland, which was forced to follow Greece and seek an between nations bailout late last year was also in the 10 least optimistic markets.
“Global consumers — especially in the West, are stimulating themselves for another year of flat to sluggish growth in 2011,” before-mentioned Venkatesh Bala, chief economist at The Cambridge Group, a unit of The Nielsen Company.
“Job cosmos and employment numbers have fallen below expectation and even though various countries are officially out of recession, many consumers are still alive – and expect to continue living – a cautious recessionary lifestyle that is restricting domestic spending and demand.”
Rising inflation threatened consumer assurance in previously bullish emerging markets, he said.
“Going forward, swelling prices in several emerging markets such as China and India accept potential to dent consumer confidence and spending, especially if their governments decide to spread out policy actions to combat higher inflation,” Bala said.
China’s director reading dipped 4 points to the 100 level whereas Brazil was in the reach the summit of 10 most confident markets and its score rose 5 points from the third part quarter to 108.
The survey was taken in mid-November, cover 26,000 consumers in 52 countries. The survey is based up~ consumers’ confidence in the job market, status of their individual finances and readiness to spend.
Nielsen Global Consumer Confidence Index in the fourth have lodgings, 2010 (Change from Q3 survey in brackets):
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