Consumer Sentiment Shows Major Bounce Back Amid Festival Cheer
The consumer sentiment of urban Indians has reported a major uptick of 4.3 percentage points in October
Amid festival cheer and above-normal monsoons, the consumer sentiment of urban Indians has reported a major uptick of 4.3 percentage points in October, according to the monthly LSEG-Ipsos Primary Consumer Sentiment Index (PCSI) India Report. Consumer sentiment witnessed a minor uptick of 0.4 percentage points in September, which recovered from a dip of 2.9 percentage points in August.
As the LSEG-Ipsos PCSI maps consumer sentiment on 4 sub-indices, there has been an improvement on all fronts. The PCSI current personal financial conditions sub-index (current conditions) is up by 7.7 percentage points, while the PCSI economic expectations (expectations) sub-index is up 3.3 percentage points.
On the investment front, the PCSI investment climate sub-index is up 7.1 percentage points and sentiment for the PCSI employment confidence (jobs) sub-index, has seen a minor surge of 0.3 percentage points.
"Consumer sentiment has phenomenally improved for personal finances, for day-to-day household expenditure, and investments – making it conducive for customers to save and invest in big-ticket purchases, in the festival season, particularly, when marketers are doling out promotional schemes and easy financing. Confidence around the economy is seeing a major rebound, riding on good monsoons and boosted by growth in infrastructure and domestic consumption,” stated Amit Adarkar, Chief Executive Officer (CEO), Ipsos India.
Among the 29 countries, India (66.3) now holds the highest national index score. India and Indonesia (62.1) are the only countries with a national index score of 60 or higher. Ten other countries now show a national index above the 50-point mark: Singapore (58.3), Malaysia (58.2), Thailand (56.8), the U.S. (55.6), Sweden (55.4), Mexico (53.8), Brazil (53.4), the Netherlands (52.1), South Africa (51.4), and Great Britain (50.7).
In contrast, just three countries, Japan (39.3), Hungary (35.3), and Türkiye (33.0), show a National Index below the 40-point mark.
