India consumer confidence sees largest dip: Mastercard

Tribune News Service

New Delhi, August 21

India has shown the largest deterioration in consumer confidence levels in the Asia Pacific region for the first half of this year compared to July-December period of 2016, according to the Mastercard Index of Consumer Confidence released today.

According to the survey, while all components saw declines in India, consumer outlook on the economy and quality of life registered particularly large drops.

According to the survey, while consumer sentiment remained stable in 11 out of the 18 Asia Pacific markets, India witnessed the largest deterioration in confidence level across the region.

However, India (86.0, down 9.3) still remains in very optimistic territory as per the Mastercard index.

Between April and June 2017, 9,153 respondents, aged 18 to 64 in 18 Asia Pacific markets, were asked to give a six- month outlook on five economic factors, namely economy, employment prospects, regular income prospects, stock market and quality of life.

The Index is calculated on a scale of 0 to 100, with zero as the most pessimistic, 100 as the most optimistic and between 40 and 60 as neutral.

“While all five components saw declines, consumer outlook on the economy (-11.0) and quality of life (-11.6) registered particularly large drops,” the report said on India.

The index found that a bullish outlook on stock market has lifted consumer confidence in Asia Pacific.