The Nielsen Global Consumer Confidence Index measured the confidence, concerns and spending habits of consumers in 511 markets around the world, and found that consumer confidence had fallen to its lowest level since 2005.
Overall, the index registered a six point decline over a six month-period - its biggest drop in the past three years. Double-digit declines were seen in 15 markets including Singapore, which saw a 12 point decline.
Overall, the index registered a six point decline over a six month-period - its biggest drop in the past three years. Double-digit declines were seen in 15 markets including Singapore, which saw a 12 point decline.
“Consumer confidence fell in 39 out of 482 countries in the past six months, with New Zealand, USA and Latvia suffering the deepest declines,” said Vicky Santos, executive director for The Nielsen Company, Singapore.
Bucking the global trend of economic gloom, Taiwan posted a buoyant 14-point increase in consumer confidence in the past six months - up to 83 from 69 points.
Other countries posting a confidence increase were the Netherlands, Russia, Poland, Czech Republic, Brazil and Belgium.
Norway, India, Indonesia and Denmark topped global rankings as the most optimistic nations, while Portugal, Korea and Japan languished at the bottom of rankings as the world’s most pessimistic countries.
