India has been ranked fifth in terms of consumer confidence among emerging market economies, says a Credit Suisse report. China tops the list. According to the survey carried out by Credit Suisse in partnership with global market research firm Nielsen, confidence among emerging market consumers has deteriorated during the last year. Around 26% of respondents believe that their personal finances would improve over the next three months as compared to 28% a year ago. Meanwhile, optimism level in India has also slipped four percentage points over last year and India was ranked fifth in the list. Among others, Indonesia was ranked third in the list, followed by Mexico. However, beneath the headline readings, there are signs of an underlying improvement, as more people believe this is a good time to purchase big ticket items and more people now expect inflation to fall, the report said. Rural areas are seeing a much bigger improvement than urban in most categories. People are buying smartphones rather than conventional mobiles and fewer people bought entry-level cars. For this report, nearly 16,000 face-to-face interviews with consumers across nine economies were conducted. These include Brazil, China, India, Indonesia, Russia, Saudi Arabia, Turkey South Africa and Mexico.
