New Delhi : Consumer Confidence of Indians has dropped by 3.1 percentage points in August 2019, according to the latest India Primary Consumer Sentiment Index (PCSI),as measured by Thomson Reuters in partnership with Ipsos. This downward slide in PCSI has been continuous since May 2019, barring a marginal (0.6 percentage point) improvement in July 2019.
Notably, mood is downbeat across all parameters of PCSI which is driven by the aggregation of the four, weighted, sub-indices: the PCSI Employment Confidence (“Jobs”) Sub-Indexis down by 1.7 percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, has fallen by 3.0percentage points; the PCSI Investment Climate (“Investment”) Sub-Index has tumbled by 4.1percentage points; and the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has declined by 3.7 percentage points over last month.
“Urban Indians are feeling less confident about the economy and jobs and further, there is bit of a tightening in personal spending and investments for the future; macro-economic factors (both, global and local) are definitely impacting the mood, making the indicators drop, month on month,” says Parijat Chakraborty, Country Service Line Leader, Public Affairs& Corporate Reputation, Ipsos India.
India PCSI 2013-2019 Trend
These are findings of an Ipsos online poll conducted July 26, 2019 – August 9, 2019. For this survey, a sample of 500 adults from Ipsos’ India online panel aged 16-64 years 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 the respondents 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.