Brazil led the way for Latin American consumer confidence with an index of 106, a decline of four points from fourth-quarter 2013. While the majority of Brazilian respondents reported an optimistic outlook for local job prospects (58%) and personal finances (72%), these figures represent declines of 5 and 4 percentage points, respectively.
The biggest regional quarter-on-quarter consumer confidence index increases were reported in Mexico (86) and Venezuela (78), which rose eight and four index points, respectively. Conversely, consumer confidence in Argentina (71) declined six points, while Chile (98) and Peru (101) each fell one point, respectively, compared to fourth-quarter 2013. Colombia’s index, meanwhile, remained flat in the first quarter with a score of 93.
The biggest concerns for Latin Americans included worries about job security (16%), the economy (13%), crime (11%), work/life balance (9%) and health (9%).
Regionally, quarter-on-quarter discretionary spending increases were reported for out-of-home entertainment expenses (+3 percentage points), new technology products (+3pp) and home improvement projects (+2pp). Nearly one-third (32%) of Latin American respondents put money into savings and 35 percent paid off debts, credit cards and loans.
Other findings include:
For more detail and insight, download Nielsen’s Q1 2014 Global Consumer Confidence Report.
The Nielsen Global Survey of Consumer Confidence and Spending Intentions was conducted Feb. 17, 2014–March 7, 2014, and polled more than 30,000 online consumers in 60 countries throughout Asia-Pacific, Europe, Latin America, the Middle East/Africa and North America. The sample has quotas based on age and sex for each country based on their Internet users, and it’s weighted to be representative of Internet consumers and has a maximum margin of error of ±0.6 percent. This Nielsen survey is based on the behavior of respondents with online access only. Internet penetration rates vary by country. Nielsen uses a minimum reporting standard of 60 percent Internet penetration or 10 million online population for survey inclusion. The China Consumer Confidence Index is compiled from a separate mixed methodology survey among 3,500 respondents in China. The sub-Saharan African countries in this study are compiled from a separate mobile methodology survey among 1,600 respondents in Ghana, Kenya and Nigeria. The Nielsen Global Survey, which includes the Global Consumer Confidence Index, was established in 2005.