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Tuesday, July 17, 2012

PHL among world's top 10 most confident nations

The Philippines came out third in the latest list of the world’s top 10 most confident nations based on the consumer confidence findings of Nielsen, a global provider of information and insights.

According to a report of the news site Emirates 24/7, the top 10 countries by consumer confidence are:
  • Indonesia (120 points, +2 from the first quarter),
  • India (119, -4),
  • Philippines (116, -2),
  • Saudi Arabia (115, -4)
  • Malaysia (111, +4),
  • United Arab Emirates (108, +3)
  • Brazil (106, -4)
  • China (105, -5)
  • Hong Kong/Thailand (104, +1, +3),
  • and Egypt (103, +6).

Nielsen said consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism.

The report said the biggest quarterly consumer confidence gains in the second quarter of the year were reported in France (+11), Belgium (+9), Finland (+7), Switzerland (+7), Austria (+6), Egypt (+6), Greece (+6), Poland (+5), Malaysia (+4) and Sweden (+4).

On the other hand, the biggest quarterly consumer confidence declines were reported in Taiwan (-12), Argentina (-5), Australia (-5), China (-5), Netherlands (-5), United States (-5), Brazil (-4), India (-4), Italy (-4), Norway (-4), and Saudi Arabia (-4).

Among the global consumers surveyed, the economy and job security remain top concerns.

Sixteen percent of respondents indicated that their top concern was the economy while 14 percent said they were concerned about job security.

About 10 percent of respondents are concerned about balancing work and life responsibilities.

Nielsen’s survey showed that 47 percent of the global respondents indicated their local job prospects were “good” or “excellent.”

More than half (53 percent) of global online consumers also considered their personal finances over the next twelve months to be “good” or “excellent.”

Dr. Venkatesh Bala, chief economist at The Cambridge Group, a part of Nielsen, said, “Consumers are clearly proceeding with caution in relation to their spending intentions.” - VVP, GMA News

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