New Delhi: Indians are most optimistic globally about their job prospects for the next one year, although their confidence levels over their country's economy and spending has not increased in third quarter of 2010, reports PTI quoting a survey.
As per the Nielsen Global Consumer Confidence survey, more than nine out of ten Indians (91%) are optimistic about their job prospects in the next 12 months.
"The confidence in job prospects also translates into optimism on the financial front for Indians. More than eight in 10 Indians (83%) are optimistic about the state of their personal finances in the next twelve months, the highest percentage globally," it said.
The report, however, said after a steady increase in the first two quarters of this calendar on a year-on-year basis, a degree of optimism of Indians on the state of the economy has not grown, although the same for their global peers saw a dip.
"Indian consumers are confident about their economy and have shown similar confidence levels as the second quarter of 2010; however these levels have not increased like they did in the first two quarters of 2010," The Nielsen Company managing director (consumer) Justin Sargent told reporters here.
This indicates stabilisation in the trend and also reflects the fact, consumers are wary of the uncertainties that surround global economic conditions, he added.
As per the findings of Nielsen Global Consumer Confidence survey that polled 26,000 consumers in 53 countries, India's index stood at 129 as compared to global index of 90.
Thailand was the second country to see highest consumer confidence levels at 117 index points as per the survey.
Consumer Confidence Index (CCI) is the degree of optimism on the state of the economy that consumers are expressing through their activities of savings and spending.
According to the survey, 67% of Indians are of view that their country is not under an economic recession, while the rest believed that the country is currently under a recession, a two percentage rise over the second quarter of this year.
"In third quarter of 2009 more than half the consumers surveyed believed that India was under an economic recession," the survey said.
Of the 33% Indians who thought India was still undergoing an economic recession, 53% believed it will be out of recession in the next 12 months, the highest percentage for any country globally to think it will be out of the recession in the next one year.
More than half 56% of global consumers believed they were currently in recession and 48% did not believe that they will be out of a recession in the next 12 months.
In terms of optimism over job prospects, Singapore (78%) and Thailand (77%) are the next most optimistic nations when job prospects in the next twelve months are considered.
In the third quarter of 2010 nearly six out of 10 Indians were optimistic about shopping. "Indians appear to have loosened their purse strings compared to previous quarters," Mr Sargent added.
As many as 65% Indians put their spare cash into savings, while 48% invest in stocks or mutual funds.
New technology products are the next on the list as 42% Indians top the list of countries globally who intend to put their spare cash into buying new technology products.
Despite optimism, Indians also have some concerns such as increasing food prices, work-life balance and job security, the survey said.
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TVS Motor Co Ltd said that robust demand for its products across all segments of the two and three-wheeler industries has enabled it to post a total sales growth of 48% in October 2010.
During October, the company registered total sales of 1,95,271 units compared with 1,31,941 units same month last year while its cumulative sales for the seven months to October, stood at 1.12 million units, TVS Motor said in a statement.
During last month, total two-wheeler sales of the company grew by 46% with sales of 191,822 units against 131,029 units same month a year ago.
Cumulative two wheeler sales for the period April to October increased 34% with sales of 1.17 million units over 868,509 units in the corresponding period last year.
On Monday, TVS Motor shares ended 6.2% up at Rs77 on the Bombay Stock Exchange, while the benchmark Sensex closed 1.6% up to 20,355 points