New Delhi: The monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI) for India, has surged by a robust 4.7 percentage point in January 2021, the first time reaching pre-pandemic levels, which is a good start to the new year.
The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, has shown improvement across the 4 indices, in January 2021:The PCSI Employment Confidence (“Jobs”) Sub-Index is up by 2.5 percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, is up by 3.5 percentage points; the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has moved up by 6.0 percentage points, and the PCSI Investment Climate (“Investment”) Sub-Index has soared by 6.0 percentage points.
“India is clearly in the recovery mode; we are witnessing a bounce back. All these indicators validate how as a market we are getting back on the grid and the consumer sentiment is seeing an upturn. What is especially heartening is the increase in PCSI Employment Confidence as this is a harbinger of sustained consumer confidence. The jump in January across all four indices is the sharpest since the pandemic/ lockdown hit us. For the first time, consumer confidence has bounced back to the pre-pandemic level. The upcoming budget will show us the way forward on which way consumer sentiment/ spends will go,” said Amit Adarkar, CEO, Ipsos India.
These are findings of an Ipsos online poll conducted December 25, 2020 – January 8, 2021. For this survey, a sample of 500 adults from Ipsos’ India online panel aged 16-64 were interviewed online. As this is an online poll in India, representative of the online community in the country, it is not reflective of the general population; however, the online sample is particularly valuable in their own right as they are more urban, educated, and have more income than their fellow citizens and often referred to as “Upper Deck Consumer Citizens” or Primary Consumers. The precision of the Refinitiv/Ipsos online polls is measured using a Bayesian Credibility Interval. In his case, the poll has a credibility interval of plus or minus 5.0 percentage points for all adults. For more information on the Bayesian Credibility Interval please see http://www.ipsos-na.com/news-polls/pressrelease.aspx?id=5836
The Refinitiv/ Ipsos India Primary Consumer Sentiment Index (PCSI), ongoing since 2010, is a monthly national survey of consumer attitudes on the current and future state of local economies, personal finance situations, savings, and confidence to make large investments. The Index is composed of four sub-indices: Current Conditions Index; Expectations Index; Investment Index; and, Jobs Index.