Consumer Confidence dips by 1% point in March: Ipsos Survey

The monthly Refinitiv-IpsosPrimary Consumer Sentiment Index (PCSI) for March 2020, has shown a 1 per cent decline over February 2020, amid economic slowdown and corona scare. Ergo, three of the four indices have shown a downward slide – personal finances, personal investment and the confidence in the country’s economy. Only confidence around jobs, has slightly moved up.

The monthly PCSI, whichis driven by the aggregation of the four weighted sub-indices,has diminished over the last round, in February 2020, by

percentage point.So, while the PCSI Employment Confidence (“Jobs”) Sub-Indexhas moved up by 1.2 percentage points, the PCSI Economic Expectations (“Expectations”) Sub Index, has dropped by2.8percentage points; the PCSI Investment Climate (“Investment”) Sub-Indexhas fallen by 1.4percentage points; and the PCSI Current Personal Financial Conditions(“Current Conditions”) Sub-Indexis down by 0.8 percentage points, over the previous month. 

 

“We see some bit of a pessimism among urban Indians. A multitude of factors are lowering the consumer sentiment – we are witnessing a global economic slowdown and India too has been impacted; corona virus is like a bolt from the blue and its real impact, while we’ll get to know by next month,  but it has already made some bit of a dent in slowing down businesses with its negative repercussions on global economies, including India,” says Amit Adarkar, CEO, Ipsos India. 

 

 

 

 

 

 

India PCSI 2014-2020 Trend

 

These are the findings of an Ipsos online poll conducted February 21, 2020–March 6, 2020.  For this survey, a sample of 500 adults 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 in its own right,being more urban, educated and with more income than its fellow citizens and often referred to as “Upper Deck Consumer Citizens” or Primary Consumers. The precision of the Refinitiv/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. 

 

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. The Index is composed of four sub-indices: Current Conditions Index; Expectations Index; Investment Index; and, Jobs Index.

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