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Economy | Consumer confidence rises in India, China

Economy | Consumer confidence rises in India, China
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First Published: Tue, Jun 09 2009. 10 48 PM IST
Updated: Tue, Jun 09 2009. 10 48 PM IST
New Delhi: Consumers in India and China remain optimistic about the next six months, despite a widespread drop in consumer confidence across 16 markets in Asia-Pacific, West Asia and Africa, according to a survey by credit-card processing firm MasterCard Worldwide.
India scored 68 and China 60.8 on the MasterCard Worldwide Index of Consumer Confidence, a statement from MasterCard said on Tuesday.
--Staff Writer
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S&P may downgrade India’s rating
New Delhi: Global rating agency Standard and Poor’s (S&P) on Tuesday said it may downgrade India’s sovereign rating, if external liquidity condition weakens further and fiscal deficit worsens, which may dampen investors’ confidence in Indian economy.
“Any further fiscal slippage, or a marked decline in external liquidity indicators, or policy measures that weaken economic growth prospects could lead to a downgrade of the ratings,” S&P said in a report.
Currently, the agency assigns ‘BBB-´ to India, which is the lowest rung of investment grade.
--Staff Writer
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First Published: Tue, Jun 09 2009. 10 48 PM IST