Indians' confidence in the national economy, their local (personal) economy, and their outlook for the same in the next six months, has steadily dropped over the last one year, according to the ‘Ipsos Global @dvisory: The Economic Pulse of the World'. The report is based on 18,607 interviews in 24 countries, including around 1,000 in India. Indians are still the third most confident in their country's economy, says the monthly report, which is into its fifth year. Against 71 per cent of Indians, only 40 per cent of global respondents deemed their country's economy to be ‘good'.

“While India still has confidence in its macro-economic future, there is some level of local stress evident due to high inflation, periodic hikes in the interest rates and their impact on the market, increasing the cost of living for a family in India,” said Ms Sonia Pall, CEO, Ipsos, India.

Saudi Arabians continue to be most confident with 89 per cent rating their national economy as good. Hungarian and Spanish respondents were least confident in their national economy, with 6 per cent viewing it as ‘good'.

The global average of local economic assessment remains the same among the 24 countries, says Ipsos. Among all respondents, 30 per cent view their local (personal) area economy as ‘good', and 26 per cent said their local area economy will be stronger six months down the line. Among Indian respondents, 52 per cent think so.

“The slightly softer outlook for the next six months compared to June '10 by Indian citizens is primarily due to high inflation and the frequent scams involving large companies and the Government. In order to maintain its attractiveness as a growth market, India needs some positive developments in the next six months to strengthen the future economic confidence,” added Ms Pall.

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