India tops consumer confidence in Asia: Survey
At 81.2, in an index which is calculated with zero as the most pessimistic 100 as the most optimistic, India was the leader of the pack in Asia, said MasterCard Worldwide Index of Consumer Confidence.
The index is based on a survey which measures consumer confidence on prevailing expectations in the market over the next six months, based on indicators such a economic growth, employment, stock market, regular income and quality of life. It involved 12,915 respondents in 25 countries and recorded a three-point rise in Middle East consumer confidence from the previous six month period, bringing the index to (85.7), significantly higher than Africa (73.8) and Asia Pacific (52.1).
Nigeria (96.4) retained the top spot in Africa, followed by Morocco (87.2), said the survey carried out between December 5, 2011 and February 8, 2012. In the Middle East, Qatar and Oman topped the index with a remarkable score (93.6); followed closely by Egypt (88.3), Kuwait (88.3), Saudi Arabia (83.9) and the UAE (82.1).