The Nielsen Global Survey of Consumer Confidence and Spending Intentions for the first quarter of 2013, shows that there is no unanimity in confidence among people around the world. People who are unhappy are unhappy in countries where most experts would expect them to be unhappy. The same holds true for happier populations. In other words, the study does not tell much.
The report on global consumer confidence shows:
"Economic perceptions signaled positive momentum as global job prospects, personal finances, and spending intentions cautiously edged up in Q1 2013," said Dr. Venkatesh Bala, chief economist at The Cambridge Group, a part of Nielsen. "Encouraged by positive signs in the U.S. economy and moderately steady performance in China, consumer confidence in developed Asian economies rebounded strongly last quarter, as Hong Kong, Japan, South Korea, and Taiwan posted double-digit confidence increases."
Double-digit consumer confidence declines were reported in Egypt (-20) and Saudi Arabia (-17), compared to Q4 2012. Pakistan declined six index points to a score of 88, and United Arab Emirates dropped five index points to 108, which was the highest index reported in the region.
The likely accuracy about Egypt and Pakistan takes one breath away.
Filed under: 24/7 Wall St. Wire, International Markets, Research