October 31, 2011
Global consumer confidence remained weak in the third quarter with more than 60 percent of consumers saying it was not a good time to spend, and one-in-three North Americans saying they have no spare cash, a survey showed on Sunday.
The economic outlook, followed by job security, became consumers’ biggest concern in the third quarter, overtaking worries about rising inflation, according to the quarterly survey by global analytics and information company Nielsen.
The Nielsen Global Consumer Confidence Index dipped just 1 point in the third quarter from the second quarter to 88 points, but it was shored up by a surge in confidence in emerging economies Brazil and Saudi Arabia, which masked weak confidence in major developed economies.
A reading below 100 indicates consumers are pessimistic about the economic outlook for the coming months.