Consumer confidence improves in November

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SME Times News Bureau | 21 Nov, 2020
The consumer sentiment in India has recovered in November, showed the Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI).

Consumer confidence rose by 2.6 percentage points and shows recovery across the four sub-indices, the barometers of consumer sentiment, said an Ipsos statement.

The PCSI Employment Confidence Sub-Index has moved up by 1.3 percentage points, the PCSI Economic Expectations Sub Index, is up by 1.6 percentage points.

Further, the Current Personal Financial Conditions Sub-Index has increased by 3.7 percentage points and the PCSI Investment Climate Sub-Index has significantly moved up by 4.0 percentage points.

"November shows a boost in consumer sentiment across metrics - there is uptick for personal finances, investments in big ticket items and recovery in perception seen for jobs and the economy," says Amit Adarkar, CEO, Ipsos India.

"Several factors could be driving this optimism - festival spirit (which is infusing positivity), consumer friendly loans for investment and normalcy returning with businesses and employees returning to work. But will this sustain for the long term? It remains to be seen, as the pandemic is seeing a resurgence," he said.