KUALA LUMPUR (July 23): Malaysian consumers are the 10th most confident globally based on The Conference Board Global Consumer Confidence Survey, which was produced in collaboration with Nielsen.

Nielsen said in a statement today Malaysia was ranked 10th globally on the survey's Consumer Confidence Index (CCI), with a score of 110 points in the second quarter of 2019 (2Q19).

"This is the sixth consecutive quarter of consumer optimism that Malaysia has enjoyed, after experiencing 17 consecutive quarters of pessimism since 4Q13.

"While the consumer confidence index score has declined both on a quarterly and an annual basis, a score of 110 should still be viewed positively, as a majority of consumers continue to be positive on bread and butter issues such as their personal finances and job prospects," Nielsen Malaysia managing director Luca De Nard said in the statement.

According to Nielsen's statement, Malaysia's 2Q19's CCI score of 110 points is a dip compared to the 115 points posted in 1Q19.

A year earlier, the nation scored 117 points in the CCI for 2Q18, Nielsen said today.

Nielsen's earlier statements indicated that in 1Q19, Malaysian consumers were ranked the sixth most confident globally. For 2Q18, Malaysian consumers were ranked the seventh most confident, Nielsen's earlier statements said.

Today, Nielsen said: "The CCI is driven by three indicators, which are consumers' perception on local job prospects, personal finances and intentions/readiness to spend. Malaysians' readiness to spend has not changed on a quarterly and annual basis, however perception on job prospects and personal finances has declined over the same time periods."

"63% of Malaysians believe the state of their personal finances in the next 12 months will be excellent or good (vs 71% in 1Q19, 69% in 2Q18). 63% have a positive view on job prospects in the next 12 months (vs 70% in 1Q19 and 73% in 2Q18. 48% say now is the time to buy the things they want and need (in line with 48% in 1Q19 and 50% in 2Q18)," Nielsen said.

De Nard said that although the economy and job security have always been at the forefront of Malaysians' minds over the past three years, there has been a steady decrease in concerns on higher prices of food, fuel and utility, "which correlates to the low inflation we have experienced recently".

"At the same time, Malaysians have become increasingly worried about the state of their health. This may be attributed to the recent spotlight that has been placed on the rise of lifestyle-related diseases among Malaysians, such as diabetes, heart disease, obesity and hypertension in the public sphere," he said.