Indonesia has edged out India for the top spot in world consumer confidence in Nielsen's survey, Reuters reports:
Indonesia's shift to top spot in the survey was a further sign that the country, with its big domestic economy and an expanding middle class, is weathering the global slowdown better than some other emerging markets.
"In Indonesia, consumer optimism has been evident all year fuelled by investment rating upgrades from Moody's and Fitch," said Catherine Eddy, managing director, Nielsen Indonesia.
Global consumer confidnece in down two points, to 53 percent, since the first quarter of this year. U.S. confidence fell 5 points.
The rise of the Indonesian economy and its growing middle class were one of FP's Stories You Missed in 2010.
ADEK BERRY/AFP/Getty Images
Passport, FP’s flagship blog, brings you news and hidden angles on the biggest stories of the day, as well as insights and under-the-radar gems from around the world.