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Monday, October 25 2021

Economy

Consumer confidence rally in Sep shows 2% points upswing

Consumer confidence rally in Sep shows 2 points upswing

New Delhi: Consumer Confidence of urban Indians has shown  2 percentage points upswing in Sep, according to the Refinitiv-IpsosPrimary Consumer Sentiment Index (PCSI).

The monthly PCSI, improved more in September, over the previous month.

The PCSI Employment Confidence (“Jobs”) Sub-Index is up by 1.6 percentage points. PCSI Economic Expectations (“Expectations”) Sub-Index is up by 2.1 percentage points. PCSI Investment Climate (“Investment”) Sub-Index has increased by 2.1 percentage points. And finally, the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index 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 where it was  before the second wave hit us,” Ipsos India CEO Amit Adarkar said.

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. Now, Customers are confident about the economy and there is confidence around jobs. Marketers could look forward to a good festival season and sustained positive outlook in the October-December period,” he added.

For the consumer confidence survey, a sample of 500 adults from Ipsos’ India online panel aged 16-64 was interviewed online.

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.

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