New Delhi: Consumer confidence for the month of July recovered marginally as households felt more confident about their personal finances and savings, according to the findings of the India Primary Consumer Sentiment Index (PCSI), as measured by Thomson Reuters along with Ipsos.
“The India Primary Consumer Sentiment Index (consumer confidence) has shown recovery in July 2019, and has moved up, marginally, by 0.6 points," Ipsos said in a media release on 23 July.
The monthly PCSI records 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. For the month of July, all the four sub-indices registered a minor recovery.
“Consumer sentiment is limping back to recovery and showing cautious optimism in July. Mood is somewhat lifting for finances, investment, jobs and economy," Parijat Chakraborty, country service line leader, Ipsos Public Affairs, Corporate Reputation and Customer Experience said.
During the month the PCSI employment confidence ('jobs') sub-index moved up by 0.6 percentage points; while the PCSI economic expectations sub-index that measures consumer expectations, was up by a miniscule 0.1 percentage point; the PCSI investment climate sub-index was up by a minor 0.6 percentage points; and the PCSI current personal financial conditions sub-index recovered by 1 percentage point over the last month, Ipsos said.
The recovery comes as the consumer confidence for the month of June fell by 2.9% as the high cost of living and general gloom around the state of the economy weighed heavy on Indian households.
The survey was conducted among 500 adults aged 16-64 between 21 June, 2019 to 5 July, 2019.