It is the story of late 2007 and early 2008 when the world had stricken by Recession, this period changed the story of one and all right from emerging nations to developed nations all heard the sound loud and long. People and companies recovered from it but it played a great impact on the psychology of both the buyers and producers.
Consumer of the developed nation started thinking about the price and sustainability of the product, from the rulers they partly became the followers which was sort of a learning lesson to the world.
Global online confidence declined to its lowest level in six quarters to 89 as economic recovery hit a stumbling block and recessionary jitters again reverberated around the world, according to Nielsen’s quarterly Global Online Consumer Confidence Survey. Confidence in the U.S. fell five index points to 78, two points lower than the 80 points recorded in the first half of 2009 at the height of the global recession.
In the latest round of the survey, conducted between May 20 and June 7, 2011, regions of the Middle East/Africa and Asia Pacific posted the steepest declines of 12 and nine points respectively compared to last quarter, but current figures are aligned with year-ago trends. And confidence levels in Europe (74) and Latin America (91) remained largely unchanged edging up one index point each. Despite its nine point dip, Asia Pacific remained the most optimistic region at 98 points, followed by Middle East/Africa at 94 points.
The survey found that Indian consumers, despite a five point quarterly decline, remained the most positive but 58% of global online consumers said they are still in a recession – the most in the past year. More than half believe they will still be in a recession in a year’s time. 31% of U.S. consumers said they have no spare cash for discretionary spending, along with 25% of Middle East/Africa consumers and 22% of Europeans. U.S. fell five index points to 78, two points lower than the 80 points recorded at the height of the recession in the first half of 2009.
The fear of recession comes into view all over the world and by witnessing the incidents happening globally like Japan’s disaster, revolution happening in the Middle East, Australia flooding, global food shortages, New Zealand’s quake and the tornadoes and flooding in the United States hints towards a second recession.
April 22, 2013, 5:55 am UTC
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