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Consumer confidence weakens in October
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SME Times News Bureau | 22 Oct, 2020
With no signs of reprieve from the pandemic in near future and economy
yet to show major indications of a revival, India's consumer confidence
has declined by 0.3 percentage points in October 2020, as per the
monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI).
The
monthly PCSI, which is driven by the aggregation of the four weighted
sub-indices, is a mixed bag for October 2020, Ipsos said in a statement.
The
PCSI Employment Confidence Sub-Index is down by 1.2 percentage points
and the Economic Expectations Sub-Index, has dropped by 2.4 percentage
points.
However, the Current Personal Financial Conditions
Sub-Index has moved up by 2 percentage points and the Investment Climate
Sub-Index has gone up by 1.6 percentage points.
"The Indian
Economy is still in the recovery mode. Tourism provides a big boost to
the economy, but right now inbound travel from foreign countries has not
been restored, preventively, to control the pandemic. Likewise, the job
market has not started to look up just yet. Job creation will be
important," Amit Adarkar, CEO, Ipsos in India, said.
He said that the festival shopping could lift the spirits and boost the economy when consumers loosen their purse strings.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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₹95.3
|
₹93.6 |
UK Pound
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₹127.7
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₹123.7 |
Euro
|
₹110.65
|
₹106.9 |
| Japanese
Yen |
₹59.75 |
₹57.9 |
| As on 24 Jun, 2026 |
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