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Consumer confidence drops during last six months
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SME Times News Bureau | 22 Aug, 2017
The overall consumer confidence in India declined during the last six months, a survey showed on Monday.
According
to Mastercard Index of Consumer Confidence, despite deterioration in
confidence levels, India remained "in very optimistic territory".
The
study was conducted between April and June 2017, when 9,153
respondents, aged 18 to 64 in 18 Asia Pacific markets, were asked to
give a six-month outlook on five economic factors -- economy, employment
prospects, regular income prospects, stock market and quality of life.
The
index was calculated on a scale of 0 to 100, with zero as the most
pessimistic, 100 as the most optimistic and between 40 and 60 as
neutral.
"India (86-9.3) has shown the largest deterioration in
confidence levels in the region, but still remains in very optimistic
territory. While all five components saw declines, consumer outlook on
the economy (-11.0) and quality of life (-11.6) registered particularly
large drops," the survey report read.
"India continues to stay in
very optimistic territory at 86 points, despite posting the region's
largest decline of 9.3 points... Pessimism towards quality of life was
the key driver of decline for both India and Myanmar."
However,
across Asia Pacific, overall consumer confidence stayed buoyed "in
optimistic territory" at 66.9 points. The increase in confidence was
driven mainly by a bullish outlook on the stock market and employment.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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