New Delhi: Consumer Confidence of Indians has further skidded by 3.5 percentage points, in October 2019, according to the latest India Primary Consumer Sentiment Index (PCSI),as measured by Thomson Reuters, in partnership with Ipsos.
The monthly PCSI which is driven by the aggregation of the four weighted sub-indices, has slumped across all four of them:the PCSI Employment Confidence (“Jobs”) Sub-Index has fallen by 5.0percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, has dropped by 4.3percentage points; the PCSI Investment Climate (“Investment”) Sub-Index is down by 2.1percentage points; and the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has declined by 3.0 percentage points, over last month.
“Confidence of urban Indians has further dwindled, bang in the middle of the festival season. Pessimism is rife across jobs, finances, India’s economy and personal investments. Global slowdown is impacting most economies including India. These are worrying signs and government should take steps to arrest this,”says Amit Adarkar, CEO, Ipsos India &Operations Director Asia Pacific, Ipsos.
“This Diwali could be a critical milestone in affecting consumer sentiment. If festival sales don’t keep up to expectations, we maybe set for further downside,” added Adarkar.
India PCSI 2013-2019 Trend
These are the findings of an Ipsos online poll conducted September 20, 2019–October 4, 2019. For this survey, a sample of 500 adults from Ipsos’ India online panel aged 16-64 was 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 its 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 Thomson Reuters/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 Thomson Reuters/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.