Sunday, October 30, 2011

Global Consumer Confidence Falls for 7th Consecutive Quarter (Chart) *Recessionary mindset growing*

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Nielsen Global Online Consumer Confidence Survey

7th Quarterly Decline Global online consumer confidence fell for the seventh consecutive quarter as confidence in 31 of 56 global markets measured declined, according to third quarter global online consumer confidence findings from Nielsen. The economy, job security, and work/life balance were the top 3 global concerns. Global online consumer confidence declined to 88 in Q3 2011. Asia Pacific and Latin America were highest at 97, followed by the Middle East/Africa at 96, North America at 79, and Europe at 74. Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism.

Key Findings
● Economy re-emerges as top global concern
● Global online consumer confidence drops one point to 88
● USA consumer confidence declines one point to 77
● Confidence declines in 11 of 18 European markets
● France and Denmark report double-digit confidence declines
● Brazil, Saudi Arabia, and the Baltics show improvement

Commenting on the Survey “Third quarter was volatile and challenging for global economies and financial markets amid stagnant U.S. unemployment figures and a worsening euro zone debt crisis,” said Dr. Venkatesh Bala, Chief Economist at The Cambridge Group, a part of Nielsen. “A recessionary mindset is growing among consumers as more than half say they are currently in a recession - up four percentage points from last quarter and seven points from the start of the year. The result is continued spending restraint for discretionary expenses, which is expected to continue into the next year.”

Global Online Consumer Confidence (Chart) Below is a chart of the Nielsen Global Online Consumer Confidence. The current reading of 88 is below the chart average of 89.8.

Increasing Recession Sentiment 62% of global online consumers said they (i.e., their country) were still in a recession, up from 58% in the prior quarter.

Top Global Concerns are the economy, job security, and work/life balance. The economy was the top regional concern in Asia Pacific, Europe, and North America. Job security was the top regional concern in Latin America and Middle East/Africa.

Spending Intentions Improve 36% of global online consumers said the present was a good time to buy the things wanted and needed. This is up from 27% in the prior 2 quarters.

Confidence by Country India is the most optimistic country at 121, followed by Saudi Arabia 120, Indonesia 114, Brazil 112, Philippines 112, Thailand 109, United Arab Republics 105, China 104, Hong Kong 104, and Malaysia 101. The most pessimistic country is Hungary at 37, followed by Portugal 40, Croatia 40, Romania 40, South Korea 40, Greece 51, Italy 52, France 56, Japan 56, and Spain 56.

U.S. Consumer Confidence Drops Consumer confidence in the U.S. dipped to 77, from 78 in Q2 2011 and 83 in Q1 2011.

About the Nielsen Global Online Consumer Confidence Survey The Nielsen Global Online Survey was conducted between August 30 and September 16, 2011 and polled more than 28,000 consumers in 56 countries throughout Asia Pacific, Europe, Latin America, the Middle East, Africa and North America. The sample has quotas based on age and sex for each country based on their Internet users, and is weighted to be representative of Internet consumers and has a maximum margin of error of ±0.6%. This Nielsen survey is based on the behavior of respondents with online access only. Internet penetration rates vary by country. Nielsen uses a minimum reporting standard of 60 percent Internet penetration or 10M online population for survey inclusion. The Nielsen Global Online Survey, which includes the Global Online Consumer Confidence Survey, was established in 2005.

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