The level of consumer confidence in the Philippines has so far remained steady with lesser number of Filipinos worried over the country’s economy, a global survey conducted by The Nielsen Company showed.
The study conducted in April this year polled 26,486 Internet users in 47 markets from Europe, Asia Pacific, North America, and the Middle East about their job prospects, the state of their own finances, and what they do with their spare cash.
According to the survey, consumer confidence in the country is currently at a level of 103 points, steady in all aspects of the index such as job prospects, personal finances, and inclination to spend, against the previous reading of 104 points in October 2006.
On items regarding major concerns, the recent study showed that Filipinos are less worried about the country’s economy but have become increasingly alarmed about climate change, a trend shown across the globe.
Based on the survey, concerns on the country’s economic condition dropped another seven points to 40 percent, while concerns on global warming increased by seven points to 10 percent. All other areas of concern, including health, job security, and political security are generally maintained, it added.
The Nielsen Company recorded a Global Consumer Confidence Index of 97 in its April 2007 survey, down slightly by two points from 99 in October 2006. Among the regions, North America registered the highest consumer confidence at 107 points. Asia Pacific is maintaining its level over the past three surveys, while the Europeans are the most pessimistic with 90 points.
Indians continue to register in the Nielsen index as the most optimistic people in the world, with a confidence index of 135 followed by the Scandinavians, Norway, and Denmark.
"Globally, consumers appear to have erred on the side of caution in the first half of this year with a softening of consumer confidence across the board according to our survey, although as far as Asia Pacific is concerned, markets such as India, Vietnam, Hong Kong, Indonesia and the Pacific continue to hold up well," Bienvenido Niles, The Nielsen Company, Asia Pacific, said.
The world’s most pessimistic consumers hail mainly from Europe, although South Korea (50), Japan (68), and Taiwan (75) remain at the bottom of the list as far as the Asian region is concerned. Globally, the majority of consumers in Portugal, Korea, Japan, Taiwan, and Hungary are quite pessimistic, whether about the job market, state of their personal finances, or readiness to spend.
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