New Delhi: Consumer Confidence has surged by 2.6 percentage points in December, over the previous month, as per the Refinitiv-Ipsos India Primary Consumer Sentiment Index (PCSI).
The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices shows recovery for personal finances and investments.The PCSI Current Personal Financial Conditions(“Current Conditions”) Sub-Index has increased by a robust 4.2 percentage points over the previous month; the Investment Climate (“Investment”) Sub-Indexhas moved up by a significant 3.8 percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, is up by 1.7 percentage points; and the PCSI Employment Confidence (“Jobs”) Sub-Index is down by 0.6 percentage points.
Elucidating on the findings, Amit Adarkar, CEO, Ipsos India said, “Confidence around personal finances (for day to day running of households) and investments (for savings and buying of big ticket items) is seeing a major boost in December. The conservative figures for these two sub indices in November had more to do with festival shopping and spends. Interestingly, confidence around the economy too has surged more this month over November, which has more to do with reopening and increase in domestic consumption. Though confidence around jobs has seen a dip in December and this could be due to companies freezing hiring and being busy with wrapping of the fiscal year (those who follow the calendar year). And while the Omicron is perceived to be mild, our endeavour should be to insist on vaccination and COVID protocols of social distancing and masking up, to ensure the upturn in sentiment (since May this year) continues with its upward trajectory. Ergo, infections need to be kept in check.”