Global Consumer Confidence Surges According to Nielsen

Consumer confidence in the United States jumped in the third quarter and improved globally, although people were more optimistic about job prospects than their personal finances, a survey showed on Wednesday.

India remained the most bullish consumer market, while Italy became the most pessimistic, according to the survey by global information and insights company Nielsen.

The survey showed that concerns about the economy and job prospects had eased globally from the second quarter, but in North America and Europe that had been replaced by rising worries about war and terrorism.

 
European countries generally were the most pessimistic, reflecting the conflict in Ukraine, faltering growth and the risk of deflation in the euro zone. Britain and Germany, however, saw consumer confidence improve.

The Nielsen Global Consumer Confidence Index rose 1 point in the third quarter to 98, according to the survey, conducted between Aug. 13 and Sept. 5.

The index has been steadily rising since the first quarter of 2012 and the latest reading headed closer to the 100 mark that signals optimism among consumers.

U.S. consumers were the seventh most upbeat globally, with their score rising 4 points to 108 as optimism about job prospects continued to surge.

Americans were also slightly more upbeat about the outlook for their personal finances than they were in the second quarter, unlike Europeans, who were more pessimistic, reflecting persistently low wage growth.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza