Consumer Confidence plunges by 2.9% points in June 19: Thomson Reuters-Ipsos PCSI
The plunge is because 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 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.
India PCSI 2013-2019 Trend
These are findings of an Ipsos online poll conducted May 24, 2019 – June 7, 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.
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.
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