New Delhi: Consumer Confidence for urban Indians has slightly improved and inched up by 1.1 percentage points in July 2021, over the previous month, according to the monthly Refinitiv-IpsosPrimary Consumer Sentiment Index (PCSI).
We are seeing a slow recovery from the major drop in consumer sentiment, in May 2021.
The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, is showing mixed recovery: The PCSI Employment Confidence (“Jobs”) Sub-Index is down by 0.1percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, has reduced/ receded by 1.8 percentage points; the PCSI Investment Climate (“Investment”) Sub-Index is up by a significant 3.7 percentage points, and the PCSI Current Personal Financial Conditions(“Current Conditions”) Sub-Index has also recovered by a healthy 3.5 percentage points.
“Easing of restrictions and reopening since June has positively impacted livelihoods and we are seeing a robust uptick in sentiment for personal finances (for day to day running of households) and for investments (savings and investing for the future). However, the recovery around jobs and particularly the economy is slow and unless the mass immunization becomes a reality, we are likely to see the government working with utmost caution, to mitigate another wave of infections. And hence the economy may take longer to get back on grid. Which I believe we’ll need to accept because the coronavirus threat is still far from over, with many other countries facing the onset of a new wave,” said Amit Adarkar, CEO, Ipsos India.
India PCSI 2014-2021 Trend
These are findings of an Ipsos online poll conducted June 25, 2021 – July 9, 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.
Refinitiv is a global provider of financial markets data and infrastructure. The company was founded in 2018. It is jointly owned by Blackstone Group LP which has a 55% stake and Thomson Reuters which owns 45%. The company has an annual turnover of $6bn, with more than 40,000 client companies in 190 countries.
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