Survey: European confidence rises in Q2
Consumer confidence continued to rise in Europe, increasing two points to 79 – the highest since 2010 – as 65 per cent of markets showed improvement from the first quarter, according to Nielsen data. In Asia-Pacific, confidence held steady at 107, while it declined five points in North America (101), two points in the Middle East/Africa (94) and three points in Latin America (83).
Among the world’s largest economies, confidence remained at levels near and above the baseline levels in Germany (97) and the U.S. (101), despite quarterly-index declines of three and six points, respectively. In China (107) and the U.K. (99), consumer confidence increased one and two points, respectively, and it increased one point in Japan (83) from the first quarter.
“Contrasts within and across markets continue to be a dominant feature of the global economy,” said Louise Keely, senior vice-president, Nielsen, and president, The Demand Institute.
“Consumer confidence in Eurozone markets has been relatively stable, with the notable exception of Greece. While quantitative easing is largely viewed as doing as intended, Europe is now moving through the Greek debt crisis. A relatively strong starting point for confidence will support consumer spending as the crisis unfolds. In China, slowing GDP growth sits alongside a stock market that has been soaring. Confidence has not faltered there either, which bodes well for consumer spending in the near term. Meanwhile, Brazil, with its unusual combination of recession and inflation, saw consumer confidence decline to a record-low level this quarter. We expect the situation there to continue to affect spending behavior.”
In the latest online survey, conducted May 11-29, 2015, consumer confidence increased in 27 of 60 markets measured by Nielsen (45 per cent). India’s score of 131 was the highest among the 60 markets, followed by the Philippines (122), Indonesia (120) and Denmark (112). The Philippines showed the biggest quarterly improvement, as confidence there rose seven points, and Greece, which declined 12 points from the first quarter, showed the biggest quarterly decline. South Korea reported the lowest score, with 45.
Global consumer confidence declined one index point in the second quarter to a score of 96, matching the index score at the close of 2014, as overall sentiments regarding job prospects and personal finances dropped two and one percentage point(s), respectively, from the first quarter. This near-baseline score, which has stayed relatively consistent for more than a year, reflects an overall stable outlook, but uneven performance at the country level increased within regions – especially in Latin America and the Middle East.