Indians are the Third most Confident in their Country's Economy

According to the Ipsos Global @dvisory: The Economic Pulse of the World report Indians are still the third most confident in their country's economy. The report is based on 18607 interviews in 24 countries, including around 1000 in India.

 Indians' confidence in the national economy, their local (personal) economy, and their outlook for the same in the next six months dropped over the last one year. Against 71 per cent of Indians, only 40 per cent of global respondents deemed their country's economy to be good.

The report pointed out that while India still has confidence in its macro-economic future, there is some level of local stress evident due to high inflation, periodic hikes in the interest rates and their impact on the market, increasing the cost of living for a family in India. 52 per cent of Indians are of the opinion that the economy will get stronger six months down the line.

The softer outlook for the next six months compared to June 2010 by Indian citizens is primarily due to high inflation and the frequent scams involving large companies and the Government. India would require some positive developments in the next six months to strengthen the future economic confidence.

Saudi Arabians continue to be most confident with 89 per cent rating their national economy as good. Hungarian and Spanish respondents were least confident in their national economy, with 6 per cent viewing it as good.

The global average of local economic assessment remained the same among the 24 countries. Among all respondents, 30 per cent view their local (personal) area economy as good and 26 per cent were optimistic about their economy to turn stronger six months down the line.