Consumer confidence level in India jumped six points in the first quarter of the current fiscal, the highest optimism level since the fourth quarter of 2012, says a Nielsen global survey.
Consumer confidence score in India in the ongoing fiscal's first quarter was at 121, against 115 in the previous quarter.
India retains its position as the second most-optimistic country in the survey. Indonesia leads the global index with 124 points and the Philippines is in third place with 116 points.
"Consumer confidence levels above and below a baseline of 100 indicate degrees of optimism and pessimism," Nielsen said in a statement.As per the survey, sixty-eight per cent of urban respondents in India feel the country is going through a recessionary phase and within this more than half (54 per cent) say the country will be out of this recessionary phase in the next 12 months.
Commenting on the survey findings, Nielsen India President Piyush Mathur said: "Consumers are reconciled to the negative economic conditions and despite the challenge of inflation, are hoping for a better fiscal year.