A young people's consumer confidence index (YPCC) has been conducted to understand what young people think about their current and future economic prospects.

The survey, conducted by On Device Research, covers 5,600 16-34 year olds across six countries. The survey reveals young Chinese consumers have the overall highest confidence levels.

Confidence is being driven in growth markets by a very positive outlook towards their country's economy and future job prospects. In contrast these are areas young people in the UK and US are least confident about.

In growth markets, optimism towards their economy also transfers into their views on large purchases. The emerging markets index a massive 32 points higher in believing now is the right time to make big purchases.

On Device conclude that young consumers in growth markets haven't been jaded by a hard hitting recession that those in developed markets have and that there is a serious risk of young people in developed nations becoming the 'lost generation'.