New Delhi: Consumer Confidence of Urban Indians has continued its rally in September, has shown a 2 percentage points upswing, according to the theRefinitiv-IpsosPrimary Consumer Sentiment Index (PCSI).
The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices has shown more improvement in September, over the previous month: The PCSI Employment Confidence (“Jobs”) Sub-Index is up by 1.6 percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, is up by 2.1 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 moved up by 2.7 percentage points.
“Under-control Covid situation and the heightened vaccination drive have manifested in improved consumer sentiment in September. This is the fourth month (since May) that consumer sentiment has moved up sequentially. With this, consumer sentiment is back to the levels seen before the second wave hit us. The key takeaway is that consumers are buoyant in the present about personal finances for day to day running of households, they have money for savings and investments for big-ticket purchases, they are confident about the economy and there is confidence around jobs. If things go well, marketers could look forward to a good festival season and sustained positive outlook in the Oct-Dec period,” says Amit Adarkar, CEO, Ipsos India.