New Delhi: The Indian Primary Consumer Sentiment (Consumer Confidence) Index (PCSI) for October shows that consumer confidence has plummeted by 6.6 percentage points over last month as consumers are worried about personal finances for day to day running of the household, savings and investments, at the same time, there is concernfor job opportunities and performance of the economy.
““Rise in fuel prices, crumbling stock market, trade wars between the US and China (sadly, India has not been insulated), financial scams in repayment for large banks, have all had a domino effect and led to drop in overall consumer sentiment, particularly for Current Personal Financial Conditions” says ParijatChakraborty, Executive Director, Ipsos Public Affairs.
The monthly PCSI result is driven by the aggregation of the four, weighted, sub-indices: the PCSI Employment Confidence (“Jobs”) Sub-Index, which is down 4.3 points; the PCSI Economic Expectations (“Expectations”) Sub Index, which is down 3.9 points; the PCSI Investment Climate (“Investment”)Sub-Index which is down 8.8 points; and the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index which is down 8.9 percentage points over last month.
These are findings of an Ipsos online poll conducted September 21, 2018 – October 5, 2018. For this survey, a sample of 500 adults from Ipsos’ India online panelaged 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.
