More Indians are on Friday bullish about the country’s economic state than they were a year ago as nearly three-fourth belie tvehe economy is doing well, despite concerns about a worldwide recovery, according to a new study.
Pew Research in a report released on Thursday said 74 percent of Indians they interviewed believed the country’s economic conditions are good, a 10 percent jump from a year ago.
“In emerging markets, half or more in 14 of 21 countries see their economy as negative. The gloomiest are Ukrainians (94 percent), Lebanese (89 percent) and Brazilians (87 percent),” the report said. “At the same time, 90 percent of Chinese, 86 percent of Vietnamese and 74 percent of Indians think economic conditions are good in the year 2015,” it said. Last year, according to Pew, some 64 percent of Indians thought that the economy was doing well. According to the survey, a median of just 40 percent in advanced economies say conditions are good, as do 45 percent in emerging economies and 46 percent in developing nations. The study concluded that the overall sentiment is largely unchanged from economic sentiment in comparable countries in 2014. Pew said there is sign of growing public faith in an economic recovery in some of the largest economies. Roughly four-in-ten Americans (40 percent), Europeans (38 percent) and Japanese (37 percent) say economic conditions are good in their countries. Such sentiment is up 30 percentage points in Japan from the low point in 2012; up 23 points from the low in the US in 2009; and up 23 points from the low in 2013 for the median of five European Union nations. “European and Japanese views, while far from positive, have now returned to or exceed pre-financial-crisis levels. But American attitudes, while rebounding, are still more negative than they were in 2007. “This modest recovery in public economic sentiment parallels a gradual pickup in economic growth in many of these economies,” it said.
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