Consumer Confidence Dips 3.1 Percentage Points in August: Survey

Consumer confidence has been dipping continuously since May, barring a marginal improvement in July.

In yet another indicator of the downturn in the country's economy, a survey has shown that consumer confidence among Indians has dipped by 3.1 percentage points in August 2019 alone.

The Primary Consumer Sentiment Index (PCSI) was measured in a survey conducted by Thomson Reuters in partnership with Ipsos.

Here are some of the salient points from the survey:

• Downward slide in PCSI has been continuous since May 2019, barring a marginal (0.6 percentage point) improvement in July 2019.

• The PCSI Employment Confidence (“Jobs”) Sub-Index is down by 1.7 percentage points.
• The PCSI Economic Expectations (“Expectations”) Sub Index, has fallen by 3 percentage points.
• PCSI Investment Climate (“Investment”) Sub-Index has tumbled by 4.1 percentage points.
• PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has declined by 3.7 percentage points over last month.

“Urban Indians are feeling less confident about the economy and jobs and further, there is bit of a tightening in personal spending and investments for the future; macro-economic factors (both, global and local) are definitely impacting the mood, making the indicators drop, month on month,” Parijat Chakraborty, Country Service Line Leader, Public Affairs & Corporate Reputation, Ipsos India said.

(Source: Thomson Reuters-IPSOS Survey)