Indians are the most optimistic consumers, overtaking Indonesians.

According to Nielsen, consumer confidence in India increased by seven points in the second quarter of 2014 to 128 points, surpassing Indonesia at 123 points. The Philippines, at 120 points, ranked third.

“Consumers in India have indicated increased levels of confidence in the second quarter when the country’s general election was taking place in the country,” said Piyush Mathur, president, Nielsen India.

Nielsen’s consumer confidence findings ranked Portugal and Slovenia as the most pessimistic markets.

Consumer confidence remained flat in China (111), declined eight points in Japan (73), declined three points in Germany (96), increased one point in France and increased three points in the UK from the first quarter.

Regionally, confidence was highest in the Asia-Pacific region, which held steady from the first quarter with a score of 106. Followed by North America (103) and Europe (77).