SME Times News Bureau | 17 Jul, 2020
With the resumption of economic activities, consumer confidence in the
country has improved in July, according to the monthly Refinitiv-Ipsos Primary
Consumer Sentiment Index (PCSI).
A statement from Ipsos said that the consumer sentiment index for India has
moved up 2.6 percentage points in July 2020. In June, there was a minor uptick
of 0.4 percentage points after steep falls in April and May.
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.
While the PCSI Employment Confidence Sub-Index has minorly recovered by 0.7
percentage points, the Economic Expectations Sub Index has surged significantly
by 4.9 percentage points.
Further, the PCSI Investment Climate Sub-Index has increased by 2.1 percentage
points and the Current Personal Financial Conditions Sub-Index has risen by 2.2
percentage points, over June.
"Unlock-2 has brought some hope amid all the gloom of Covid-19. Easing of
restrictions, some bit of normalcy returning with respect to the economy and
livelihood, has resulted in the minor boost of optimism," said Amit
Adarkar, CEO, Ipsos India.
He added that the government 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 Adarkar.