Consumer confidence in India improved in the January-March quarter to its highest level since 2007, according to the Nielsen Consumer Confidence Index.
The index for India rose to 134 in the first quarter of 2016 after staying stagnant for three quarters. This makes Indian consumers the most confident in Asia Pacific.
Overall, the global consumer confidence remained stable in the first quarter and below the optimism baseline score of 100, edging up one index point to 98.
Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism, respectively.
The global index was compiled on the basis of a survey of more than 30,000 online consumers in 63 countries conducted in March. In India, the survey polled 501 respondents to measure perceptions of local job prospects, personal finances and immediate spending intentions.
While overall consumer confidence was high in India, 53% of the respondents said the country was facing a recession compared with 50% in the previous quarter.
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