Brazil has overtaken China in terms of consumer sentiment, as the world's second-largest economy slows and spending intention on big ticket items decline, a Credit Suisse survey shows.
Brazil has just overtaken China in terms of consumer sentiment, as the world's second-largest economy slows down and spending intention on big ticket items decline, according to a Credit Suisse survey released Monday.
The Credit Suisse Emerging Consumer survey, released Monday at the conference, found that China now sits at third place in terms of overall consumer sentiment, with India and Brazil at first and second place respectively. The survey interviewed consumers face-to-face across eight emerging economies: namely China, India, Brazil, Indonesia, Mexico,Thailand, Russia and Turkey.
The decline in spending intention across a range of luxury items, he said, suggests the narrative is"more of an economic headwinds story rather than a conscious decision to stop spending money on cars."
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