As the economy stabilises, consumer sentiment in India in July has surged by 2.3points over last month, according to the Ipsos Primary Consumer Sentiment (Consumer Confidence) Index (PCSI) conducted in partnership with Thomson Reuters.
The monthly PCSI result is driven by the aggregation of the four weighted sub-indices: the PCSI Employment Confidence (Jobs) Sub-Index which is up 3.6 points; the PCSI Economic Expectations (Expectations) Sub-Index which is up 2.6 points; the PCSI Investment Climate (Investment) Sub-Index which is up 1.6 points; and the PCSI Current Personal Financial Conditions (Current Conditions) Sub-Index, which is up 0.7 percentage points over last month.
“Boost in consumer sentiment bodes well for the economy, which means the consumer is likely to loosen his purse strings for spending and that there is liquidity in the market. Interestingly, the consumer is confident on all fronts, whether it is to do with jobs, performance of the economy, investment climate/investment in big ticket items and personal savings. There is a form of stability in the economy now that the post GST disruption has worn off and the Indian economy is placed in the sixth place, having overtaken France, as per the latest World Bank Report. So, there is optimism seen in consumers,” said Parijat Chakraborty, Executive Director, Ipsos Public Affairs.
The Ipsos online poll was conducted between June 22, 2018 and July 6, 2018. For this survey, a sample of 500 people from Ipsos' India online panel aged 16-64 years were 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 as it is 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.