The latest survey of consumer confidence around the world revealed that while confidence was returning to developed markets such as the U.S. and Europe, confidence had been shaken in emerging market economies in the Asia-Pacific region.
The quarterly survey, carried out by global information company Nielsen, measured local job prospects, personal finances and immediate spending intentions and showed that consumer confidence was improving in developed markets. It was "holding steady" in most emerging markets.
The global consumer confidence index reached 94 in the third quarter, a two-point increase from the same quarter last year but unchanged from the previous quarter. In Europe, the index increased three points to 74, the biggest quarter-on-quarter increase since the first quarter of 2010. In the U.S., meanwhile, consumer confidence hit its highest level since the third quarter of 2007.
The survey was conducted online among more than 30,000 respondents in 60 countries. It found that, globally, plans to buy new clothes, spend on vacations, out-of-home entertainment and home improvements increased 5 percentage points each in the third quarter.