India tops global consumer index, HK surges

Hong Kong, June 6: Consumers in India are the most upbeat in the world while consumer confidence in Hong Kong is at an all-time high, bucking a dip in global sentiment from six months ago, a survey by The Nielsen Company showed on Wednesday.

Scandinavians were also bullish, while Japanese, South Koreans and Hungarians were among the most pessimistic consumers, according to the survey, which gauges consumers' outlook for the next 12 months.

Forty percent of consumers globally considered the next 12 months a good time to buy things, but in India, Hong Kong and Scandinavia that figure rose to more than 60 percent.

Consumer sentiment in the United States, the world's biggest economy, dipped 2 points from a previous survey taken in November to 106. However, that was still better than most countries and on a par with China, whose score was unchanged.

The Nielsen Company's Global Consumer Confidence Index scored an average reading of 97 points, down slightly from 99 in the November survey. Readings are based on a series of questions to consumers, with a maximum possible score of 200 points.

The survey, conducted in the last two weeks of April, polled more than 26,000 Internet users in 47 markets worldwide.

India came first with 135, followed by Norway on 132 and Denmark on 127, although all three scores were down 1-2 points from six months ago.

Hong Kong ranked fifth with Vietnam on 118, just behind New Zealand on 120, but Hong Kong's score surged 7 points from six months ago to a record high and marked the biggest jump in confidence of all 47 markets. Sweden's score rose 6 points to 107.

Hong Kong consumers have been buoyed by rising wages, a strong stock market and a drop in unemployment to an 8-year low of 4.3 percent.

Neighbours South Korea in contrast came bottom of the ranking, scoring just 50 and down six points from the previous survey. Confidence in Japan also dropped, by 3 points to 68, despite signs of an improving economy.

Taiwan's reading fell 5 points to 75.

Hungary and Portugal were close to bottom with scores of 66 and 51, respectively. Hungary's reading fell 9 points from six months ago while Portugal's slumped by 14 points.

Thailand suffered the biggest drop in consumer confidence, by 15 points from six months ago to 92.

REUTERS>