Consumer confidence is continuing to increase in Brazil, Hong Kong, China, Singapore and India, reflecting that the economy is emerging from global recession, the latest Nielsen Global Consumer Confidence Index shows. 

More consumers are increasing savings and stock market investments, as well as spending more on ‘luxuries’ such as entertainment, clothes and vacations. The Nielsen survey, which tracks consumer confidence, major concerns and spending habits, was conducted among more than 17,500 Internet users in 29 markets between in December.

James Russo, vice-president, Global Consumer Insights, The Nielsen Company, said: “The survey shows that in the past six months, consumers have become more optimistic about their countries emerging from recession with better job prospects and personal finances. This is another sign that global recovery is heading in the right direction.

“However, while purse strings may be loosening in some markets, there is clearly a big difference in the pace of expected recovery between the emerging and developed markets, and consumers’ increased confidence is not yet translating into a widespread readiness to start spending.”

While eight of the top ten most confident markets in the fourth quarter of 2009 came from Asia Pacific, including emerging markets Indonesia (ranked 1st) and India (ranked 2nd), consumers in two of Asia’s most developed markets, South Korea and Japan, were the least confident. Brazil (ranked 3rd) and Canada (ranked 10th) were the only countries outside of Asia to make the top ten. Hong Kong recorded the highest consumer confidence increase for the second consecutive quarter in Q4 – up seven index points from 93 in Q3 2009 to 100 (on a scale of 0 to 200 Index points) in Q4. Confidence in Hong Kong rose a total of 21 points since June 2009.