We see a waft of optimism brewing among urban Indians: Amit Adarkar
Happy tidings! After November’s recovery of consumer sentiment by 2.9 percentage points, in December, consumer confidence has further surged by 3.3 percentage points, according to the latest India Primary Consumer Sentiment Index (PCSI), as measured by Thomson Reuters, in partnership with Ipsos. After months of slump around jobs, we see upturn in December.
The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, has shown uptick across all the four sub indices: the PCSI Employment Confidence (“Jobs”) Sub-Index has shown recovery of 2.4 percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, is up by 1.7 percentage points; the PCSI Investment Climate (“Investment”) Sub-Index has moved up by 4.8 percentage points; and the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has shot up by 4.6 percentage points, over last month.
“We see a waft of optimism brewing among urban Indians, which is a good sign. They are feeling a lot more enthused and positive about their personal financial conditions, even about investments and savings. Further, confidence around jobs has returned after months of low ebb. And even the sentiment around India’s economy is strong. Best way to wrap up the year, on a positive footing," said Amit Adarkar, CEO, Ipsos India & Operations Director, Ipsos APAC.
"There is a general feeling of stability with macro initiatives of the government settling down. Mood is buoyant with the Christmas spirit ushering in," added Adarkar.
India PCSI 2013-2019 Trend
These are the findings of an Ipsos online poll conducted November 22, 2019 – December 6, 2019. For this survey, a sample of 500 adults from Ipsos' India online panel aged 16-64 was 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 in is particularly valuable in their own right as they are more urban, educated and have more income than their fellow citizens and often referred to as “Upper Deck Consumer Citizens” or Primary Consumers. The precision of the Thomson Reuters/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. For more information on the Bayesian Credibility Interval please see http://www.ipsos-na.com/news-polls/pressrelease.aspx?id=5836
The Thomson Reuters/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.