Indian consumer confidence index dips in Q2, says Nielsen

India’s consumer confidence index slowed during the second quarter, concerns over fuel prices and rising inflation, making the country lose the top position it occupied for the last two years, to a survey by market insight firm AC Nielsen.

The Consumer Confidence Index score for India decreased by six points to 128 in the April-June quarter of 2016, from a high of 134 in the first quarter, the company said in a statement.

As per the Nielsen Global Survey of Consumer Confidence and Spending Intentions, the mood worldwide held steady in the second quarter of 2016 at 98, an index score that was flat from the first quarter. North America was the only region to sustain growth momentum in the second quarter with a three-point confidence increase to 111.

"This puts India in second place on the global index, after being in the lead for eight quarters. Globally, Philippines is the most optimistic country this quarter, with an index of 132," the survey added.

Further, in Asia-Pacific, confidence was relatively stable at 107, a one-point decrease from the first quarter. Japan's confidence was of particular significance since it decreased four points to 69. It was Japan's fourth consecutive quarter of declining scores, amid weak consumption and wage growth, the company said.

Meanwhile, the survey conducted between May 9 to 27 and polled more than 30,000 online consumers in 63 countries throughout Asia-Pacific, Europe, Latin America, the Middle East/Africa and North America.