The overall consumer confidence in India declined during the last six months, a survey showed on Monday.

According to Mastercard Index of Consumer Confidence, despite deterioration in confidence levels, India remained “in very optimistic territory”.

The study was conducted between April and June 2017, when 9,153 respondents, aged 18 to 64 in 18 Asia Pacific markets, were asked to give a six-month outlook on five economic factors — economy, employment prospects, regular income prospects, stock market and quality of life.

The index was calculated on a scale of 0 to 100, with zero as the most pessimistic, 100 as the most optimistic and between 40 and 60 as neutral.

“India (86-9.3) has shown the largest deterioration in confidence levels in the region, but still remains in very optimistic territory. While all five components saw declines, consumer outlook on the economy (-11.0) and quality of life (-11.6) registered particularly large drops,” the survey report read.

“India continues to stay in very optimistic territory at 86 points, despite posting the region’s largest decline of 9.3 points… Pessimism towards quality of life was the key driver of decline for both India and Myanmar.”

However, across Asia Pacific, overall consumer confidence stayed buoyed “in optimistic territory” at 66.9 points. The increase in confidence was driven mainly by a bullish outlook on the stock market and employment.