marketers should note that global consumers' confidence is still improving -- albeit slowly.
A study from The Cambridge Group, a Nielsen company, says a third-quarter index score of 92 grew one point versus the previous quarter. But this shouldn't be seen as a strong recommendation for the near-term.
Dr. Venkatesh Bala, chief economist at The Cambridge Group, stated: “Consumers played it safe in Q3, especially in Europe, which still faces a very precarious economic situation despite some recent stabilizing policy initiatives by the European Central Bank. Export growth from China, especially to the euro zone, has slowed substantially accompanied by restraint among consumers there."
North America and Europe are the only two improving regions -- rising three points to 91 in the former, and one point to 74 in the later. Consumers are still cautious, the study says, in the face of an uneven recovery in U.S and Europe, both which are still plagued with high unemployment.
Asia-Pacific and the Middle East/Africa regions remained flat results -- with Asia-Pacific staying at a 100 index and the Middle East/Africa at 98. Latin America declined two index points to a score of 94.
Overall, consumer confidence rose in 52% of global markets measured by Nielsen in Q3, compared to 41% of markets in the previous quarter. Confidence increased in 30 of 58 markets, declined in 19, and remained flat in seven.