50% Indians expect stronger economy in 6 months: Ipsos

Only 35% Indians believe that the local economy which impacts their personal finance is good, a drop of 2 points.

April 28, 2014 3:17 IST | India Infoline News Service
Fifty percent Indians are optimistic about Indian Economy and expect that the economy will be stronger in next six months, a rise of 2 points, according to a report by global research firm Ipsos.

According to the “Ipsos Economic Pulse of the World” study, India's economic confidence level has declined to 58% in March 2014, a decline of 3 points. However, India continues to hold 6th position as the most economically confident country in the world after Saudi Arabia, Sweden, Germany, China and Canada.

Only 35% Indians believe that the local economy which impacts their personal finance is good, a drop of 2 points.

“Inflation in India increased on account of higher food costs in March, breaking a three-month easing trend, this would give RBI little scope to support the economy amid fresh signs of slowdown,” said Mick Gordon, CEO, Ipsos in India.

“However Indians are hopeful that the new central government which will come to power with fresh mandate in May will bring in stability, push economic growth and build investor confidence,” added Gordon.

The online Ipsos Economic Pulse of the World survey was conducted in March 2014 among 18,675 people in 25 countries.

Holding steady for a second month in a row, the average global economic assessment of national economies surveyed in 24 countries remains unchanged this month as 38% of global citizens rate their national economies to be ‘good.”

Saudi Arabia (86%) remains the top-ranked country on this measure, but runner-up countries are not far behind: Sweden (80%), Germany (76%), China (69%), Canada (66%) and India (58%). Those least likely to rate their national economies as ‘good’ are in Spain (6%) and Italy (6%) followed by France (10%), South Korea (16%), Hungary (17%) and Argentina (18%).

Countries with the greatest improvements in this wave: Sweden (80%, 11pts), Russia (39%, 7pts), South Africa (21%, 4pts), Canada (66%, 3pts), Hungary (17%, 3pts) Germany (76%, 2pts) and France (10%, 2pts).

Countries with the greatest declines: Egypt (36%, -20pts), South Korea (16%, -7pts), Japan (25%, -4pts), Argentina (18%, -3pts), Poland (22%, -3pts), Australia (54%, -3pts) and India (58%, -3pts).

Six in ten Brazilians (58%) indicate they predict their local economies will be stronger in the next six months. The rest of the highest-ranking countries are: India (50%), Saudi Arabia (49%), Indonesia (42%), China (36%), Argentina (33%) and Egypt (33%).

Only one in twenty (5%) of those in France expect their future local economies will be “stronger” in the next half year, followed by  Belgium (8%), Hungary (12%), Poland (14%), and South Korea (14%).

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