Overall, a little over one in five (21%) feel they are better off than they were last year, with a slim majority (51%) feeling they are worse off. Chinese consumers are the most likely to feel that they are currently better off than they were a year ago—nearly half of them (48%) feel this way. However, the Japanese are the most negative by some distance—87% think they are worse off than they were last year. The Chinese also emerge as one of the most optimistic about their situation in a year's time, with nearly two-thirds (63%) feeling they and their family will be better off, compared to just 29% across all countries. Nigerians (65%) are also optimistic, as are a significant proportion of Panamanians (46%) and Costa Ricans (43%).

Among developed nations, the USA (36%) and Australia (33%) are the most optimistic about their situations in a year's time. In contrast, French (11%), Germans (14%) and Japanese (eight per cent) are least optimistic about being better off this time next year.

Looking at broader business conditions, Indonesians are the most optimistic about prospects for the next year, with 59% expecting times to be good or mostly good, compared to an average of just 25% across all countries polled. Again, the Chinese are not far behind (56%), and Indians on balance are also optimistic—39% expect good times, compared to 22% expecting bad times. The major European economies are most downbeat, with 57% of Spanish, 55% of French, 37% of Germans, 33% of Britons and 50% of Japanese expecting bad times over the next year.

However, many of the nations pessimistic about prospects for the next year are much more upbeat about the longer term outlook. The average proportion across the 22 countries expecting good times over the next five years rises to 34%, while Spanish are particularly optimistic about what the next five years will bring (65% good times, 15% bad times), Germans incline towards optimism (33% good times, 26% bad times), while opinion in France is split (29% good times, 31% bad times). The Japanese remain deeply pessimistic about prospects even once the immediate crisis is over, with nine per cent expecting good times and 48% expecting bad times. Japan s economy has been stagnant for the entire period of China s recent boom.

Respondents were also asked whether they thought now was a good time to make major household purchases. Overall, opinion was split, with 27% feeling that it was a good time, 33% that it was a bad time, and 34% that it was an equally good and bad time. But while Chinese consumers were again the most upbeat, with 51% feeling it was a good time for such purchases, German (47%) and British (44%) consumers were next most positive - sharply at variance with their assessment of prospects for the wider economy. Consumers in France (18%), Russia (15%) and Mexico (10%) were among the least likely to feel it was a good time to buy.