Most global consumers agree that their countries have hit recession, but opinion on how long the recession will last remains mixed, Nielsen reported Wednesday.
While 53% of those surveyed by Nielsen think their country has hit a prolonged recession that will last more than 12 months, 18% of consumers, concentrated in a handful of emerging markets, like India, Vietnam, China, and Russia, told Nielsen they expect their countries to be out of recession within the next 12 months.
In contrast, consumers in Japan, Germany, Argentina, Mexico, Turkey, Italy, Taiwan, the U.S., and Spain were the …

The global economic crisis reached a boiling point in October, but Americans are staying calm and cool, according to the results of a consumer sentiment study by Nielsen Claritas.
Of 3,000 people surveyed by Nielsen in early October, 84% reported being just as confident — or more so — in their primary financial institution as they were six months ago.  Ninety-five percent of those surveyed said they consider their financial assets at their primary bank to be relatively safe.
Although they remain confident in their personal banks, a significant percentage of the respondents said they had already …

Record high fuel prices, soaring commodities costs, and declining consumer confidence have changed the way U.S. consumers shop, according to a recent Nielsen consumer survey.  
Results from the survey indicate that 63% of U.S. consumers have reduced their household spending this year. 
The findings also suggest that consumers will continue to combine shopping trips, eat at home, and seek out at-home entertainment.

According to Nielsen, Russian consumers are among the most confident worldwide — despite the country’s high rate of inflation and an ongoing stock market crisis, The Guardian reported this week.
Consumer prices in Russia have risen by 10% so far this year, but Nielsen researchers found that most Russians are confident about the country’s job market and their personal finances. 
Of the 1,000 people in Russia surveyed by Nielsen, two-thirds said they were confident they could overcome any hardship in the second half of 2008.  Another 58% of respondents reported having good career opportunities, and …

With food and gasoline costs surging, household budgets worldwide are feeling the pinch.  But how people feel about the economy — and how they are coping financially — varies by country and region, The Economist recently reported.
Consumers in the Asia-Pacific region, for example, are more inclined to save than to splurge if they have spare money, while Russian consumers pump their extra cash into expanding their wardrobe, according to Nielsen.
Meanwhile, people in Nordic countries continue to spend money on travel and vacations, while Brazilians are happy to stay home.
Discretionary income …

Hong Kong residents are not immune to the pall cast by the current global economic slowdown and rising inflation.
This year, consumer confidence in Hong Kong has slipped to the lowest level in two years, Nielsen reported Thursday.  Hong Kong’s Nielsen Confidence Index has fallen to 109 in 2008 — from 118 in 2007. 
That trend is forcing Hong Kong residents to change their lifestyles.  According to the most recent Nielsen Consumer Confidence study, 53% of people in Hong Kong are less willing to spend in the next 12 months – up from 39% in 2007.  Two-thirds of Hong Kong residents also reported they …

Vietnam is experiencing its highest inflation in more than a decade, but consumer confidence in the country is still relatively high, according to Nielsen. 
The Vietnam News Agency Bulletin reported Wednesday that the country ranked ninth in Nielsen’s recent survey of global consumer confidence.
The same study showed that Vietnam’s inflation rate climbed to 26.8% in June — compared with a rate of 8.3% a year ago.
“Although inflationary pressure will directly impact consumer behaviour within some product and service categories, mid-to long-term prospects in Vietnam are still very encouraging,” Aaron Cross, Managing Director …

Consumer confidence has fallen to its lowest level in several years, according to the Nielsen Global Consumer Confidence Index, the definitive gauge of consumer sentiment around economic and social concerns across 51 countries.
 
Nielsen’s Global Report on Consumer Confidence, Concerns, Spending and Attitudes to Recession