75% Indians feel buoyant about their economy: Ipsos Global Study

India's Economic Confidence grew by 6 points to 75% in the month of October compared to the previous month, becoming the second most economically confident country, according to the just released global economic report released by Ipsos, world's 3rd largest market research company and the 2nd largest custom market research company.

The report, titled "Ipsos Global @dvisory: The Economic Pulse of the World' is based on 18,682 recent interviews in 24 countries around the world; and examines citizens' assessment of the current state of their country's economy for a total global perspective.

"The Indian economy has been well insulated from global economic conditions as it has been fueled by domestic consumption and the increased FDI into the country. Our economy has remained steady at a robust 8.1% and this positive consumer sentiment is seen reflected in our survey," says Mick Gordon, managing director of Ipsos in India.

The global aggregate national assessment was dragged by Europe (-2 points to 24%), which was 16 points lower than the next lowest region, North America (40%). In fact, all the regions have reported declining national economic assessments ' the Middle East and Africa (-2 to 60%); Asia Pacific (-1 to 41%); except Latin America (46%) which experienced no change in October.

Despite all the ups and downs, two countries gained significantly ' India gained 6 point to reach 75%; while South Africa gained five points to reach 39%. So, if we look at the pecking order: Global leader Saudi Arabia experienced a six-point drop to 83% but continued to hold its pole position; India as mentioned earlier bagged the second spot at 75%; Sweden lost five points and was third at 69%; Canada was unchanged at 66%; China too was unchanged at 65%.

The countries at the bottom of the heap were the same as last month with abysmally low consumer sentiments: Hungary lost two points and was at 2%; Spain gained 2 points but was low at 5%; Japan further lost two points and was 6%; France lost 1-point and was at 6% and Italy was unchanged at 8%.Sadly, Europe continued to lag by Belgium dropping 6 points to 25%; Great Britain (-6 to 11%) experienced the greatest drop in this wave after Indonesia (-7 to 35%)..