Consumer Confidence drops - Thomson Reuters-Ipsos PCSI Survey
The India Primary Consumer Sentiment Index (Consumer Confidence), as measured by Thomson Reuters in partnership with Ipsos, has fallen by 2.9 percentage points in June 2019, as consumers are reeling under high cost of living and feeling strapped for funds for daily spends and investments, also due to the dismal performance of the economy.
The monthly PCSI result which is driven by the aggregation of the four, weighted, sub-indices, is showing a dip in 3 of the 4 sub-indices: while the PCSI Employment Confidence (“Jobs”) Sub-Index has bounced back after last month’s slump, and is up by 2.0 percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, has fallen by 0.8 percentage points; the PCSI Investment Climate (“Investment”) Sub-Index has dropped by a significant 5.8 percentage points; and the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has plunged by 6.3 percentage points over last month.
“Mood is visibly downbeat among consumers. So, while sentiment towards jobs has shown recovery, it has majorly slumped for spends, savings and investments; also, to some extent there is less confidence towards performance of the economy,” says Parijat Chakraborty, Country Service Line Leader, Ipsos Public Affairs, Corporate Reputation and Customer Experience.