India, Philipines and Indonesia are ranked as the most optimistic countries globally according to the Conference Board Global Consumer Confidence Survey which was conducted in collaboration with Nielsen.

Nielsen’s press release issued on Wednesday said Indonesian consumers’ level of optimism in the fourth quarter of 2018 was stable, with a consumer confidence index (CCI) of 127, one point higher than the previous quarter of 126, just after India (133) and the Philippines (131).

Meanwhile, the Global Consumer Confidence Index increased one point to 107 in the fourth quarter of 2018, the highest in 14 years. The survey shows CCI in the Asia-Pacific increased three points to 117. Major markets such as China, India, Indonesia and Japan all improved.

“Confidence in China remains quite high, though recent retail spending data showed a possible softening. In Indonesia, consumer confidence is stable and is likely to hold up amid the upcoming national elections,” Nielsen says.

CCI is formed by three indicators — optimism toward local job prospects, state of personal finances and spending Intentions in the next 12 months.

For Indonesia, the optimism for local job prospects decreased from 73 per cent in the third quarter of 2018 to 68 per cent in the fourth quarter, while optimism of the state of personal finances was stable at 79 per cent in the last two quarters of last year.

“The good news is, in the fourth quarter of 2018 as 63 per cent of consumers said that in the next 12 months is a good time for them to shop for the things they want and need. This last indicator increased significantly from 57 per cent in the third quarter,” according to Nielsen press release.