New Delhi: Consumer Confidence for Urban Indians has shown a minor uptick of 0.9 percentage points in November, over the previous month, as per the Refinitiv-Ipsos IndiaPrimary Consumer Sentiment Index (PCSI).
The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices shows major improvement for jobs over last month, with conservative figures for the other 3 sub-indices: The PCSI Employment Confidence (“Jobs”) Sub-Index is up by robust3.3 percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, is slightly up by 0.1 percentage points; the PCSI Investment Climate (“Investment”) Sub-Index has surged by 0.9 percentage points, and the PCSI Current Personal Financial Conditions(“Current Conditions”) Sub-Index has shown no change over the previous month.
Amit Adarkar, CEO, Ipsos India is convinced that the improvement in consumer sentiment witnessed among Urban Indians since May 2021 has been consistent and likely to further improve through the pace of sentiment growth seems to be slowing down after the festival season. “Consumer Confidence is on a firm wicket and we have been seeing a consistent recovery since May 2021. And now with the job sentiment seeing a major boost in November, this will have a positive rub off on the other sub-indices of economy, personal finances, and savings & investments. Conservative improvement for personal finances and investment in November 2021, can be attributed to Festival spending. Bust after a boom? But it is temporary. Sentiment around the economy is muted considering it will take the longest to repair, due to the prolonged pandemic. In some parts of the country, we are seeing an increase in coronavirus infections; vaccinating and social distancing still remain key priorities.”