Indian consumers remain confident despite economic slowdown: Nielsen

Country tops consumer confidence index in April-June; economists say more pain ahead

Notwithstanding the slowdown, Indian consumers seem confident about the future, the data from market research agency Nielsen shows. India topped the global consumer confidence index in April-June at 138, the highest in six quarters, coming at a time when domestic economic growth has fallen sharply.

The Nielsen findings are in contrast to the Reserve Bank of India’s (RBI’s) consumer confidence index and gross domestic product growth numbers released by the government last week, which showed that India’s economy had slowed to 5 per cent — a steady decline over a year. What’s more worrying is that growth in private consumption