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