New Delhi: Happy tidings: the monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI) for India has shown further recovery and has moved up 2.6 percentage points in July 2020. In June 2020 there was a minor uptick of 0.4 percentage points after steep falls in April and May rounds of PCSI.
The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, has shown recovery across all the four indices in July 2020. The PCSI Employment Confidence (“Jobs”) Sub-Index has minorly recovered by 0.7 percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, has surged significantly by 4.9 percentage points; the PCSI Investment Climate (“Investment”) Sub-Index has increased by 2.1 percentage points; and the PCSI Current Personal Financial Conditions(“Current Conditions”) Sub-Index has risen by 2.2 percentage points, over June 2020.
“Unlock2 has brought some hope to all the gloom of COVID19. Easing of restrictions, some bit of normalcy returning with respect to the economy and livelihood, has resulted in a minor boost of optimism. The govt and all state governments adopting a cautionary approach to the reopening and at the same time trying to restore normalcy is reflecting in the mood of urban consumers; providing them with a booster dose and some ray of hope. Though COVID 19 cases continue to mount for India and consumers are learning to live with the virus, slowly and steadily. We are yet to see a major increase in the PCSI Employment Confidence though. For sustained demand, this plays a critical role,” said Amit Adarkar, CEO, Ipsos India.
India PCSI 2014-2020 Trend
These are findings of an Ipsos online poll conducted on June 19, 2020 – July 3, 2020. 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 in 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.