Consumer Confidence inches up by 2.6 percentage points in July 2020: Refinitiv-Ipsos PCSI
Consumer sentiment up for jobs, economy, personal finances and investments for future
Happy tidings: the monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI) for India has shown further recovery and has moved up 2.6 percentage points in July 2020. In June 2020 there was a minor uptick of 0.4 percentage points after steep falls in April and May rounds of PCSI.
The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, has shown recovery across all the four indices in July 2020. The PCSI Employment Confidence (“Jobs”) Sub-Index has minorly recovered by 0.7 percentage points ; the PCSI Economic Expectations (“Expectations”) Sub Index, has surged significantly by 4.9 percentage points; the PCSI Investment Climate (“Investment”) Sub-Index has increased by 2.1 percentage points; and the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has risen by 2.2 percentage points, over June 2020.
“Unlock2 has brought some hope to all the gloom of COVID19. Easing of restrictions, some bit of normalcy returning with respect to the economy and livelihood, has resulted in the minor boost of optimism. The govt and all state governments adopting a cautionary approach to the reopening and at the same time trying to restore normalcy is reflecting in the mood of urban consumers; providing them with a booster dose and some ray of hope. Though COVID 19 cases continue to mount for India and consumers are learning to live with the virus, slowly and steadily. We are yet to see a major increase in the PCSI Employment Confidence though. For sustained demand, this plays a critical role,” said Amit Adarkar, CEO, Ipsos India.
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