Tuesday, April 20, 2021
Home Business Consumer Confidence In India Witnesses An Uptick Of 2.9%

Consumer Confidence In India Witnesses An Uptick Of 2.9%

Report says that consumer confidence recovers in India in November

After months of decline, consumer confidence in India witnessed an uptick of 2.9 percentage points, according to a consumer sentiment index jointly prepared by Thomson Reuters and IPSOS.

According to the ‘India Primary Consumer Sentiment Index’ (PCSI), low interest rates, among other sops and deals helped boost consumer confidence.

“After months of pessimism, consumer confidence has shown recovery of 2.9 percentage points in November 2019, with marketers unleashing a bonanza for consumers, by low interest, almost 100 per cent financing, sops and deals, lifting the mood and infusing positivity,” a statement from IPSOS said.

Growth in consumer confidence
Consumer confidence has shown recovery of 2.9 percentage points in November 2019. Pixabay

The monthly PCSI is driven by the aggregation of the four weighted sub-indices. In November, three of the four indices rose, barring that of jobs.

The PCSI Employment Confidence (jobs) Sub-Index is down by 1.1 percentage points. The Eonomic Expectations Sub Index, is up by 1.2 percentage points, and the Investment Climate Sub-Index rose by by 5.5 percentage points.

The Current Personal Financial Conditions Sub-Index shot up by a significant 6.5 percentage points, over last month, the statement said.

Also Read- Toyota Investing $500 Million in Uber

“The festival season has lifted the mood as marketers doled out easy finance schemes for consumers to buy or upgrade durables — even automotive companies saw more cars driving out of their showrooms — Diwali, historically has been the time for big ticket purchases, even as the consumers loosened their purse strings,” said Amit Adarkar, CEO, Ipsos India.

As jobs continued to bother consumers, an upturn in employment confidence in future would be critical for sustaining consumer sentiment, he added. (IANS)

STAY CONNECTED

19,517FansLike
362FollowersFollow
1,773FollowersFollow

Most Popular

Nanking Massacre: The Holocaust

By- Khushi Bisht The Nanking Massacre, also known as the Rape of Nanking, was one of the worst massacres committed during the Sino-Japanese war that...

‘Child Of Two Worlds’ Featuring The Protagonists And Immortal Lovers

Turkey-based author Ann D'Silva has launched her new book "Child of Two Worlds", which is second in the fictional 'Sand and Sea' series, which...

Now Transfer Posts And Notes To Google Docs And WordPress Directly

Facebook on Monday introducing two new data portability types that will help users directly transfer their posts and notes to Google Documents, Blogger, and...

Lyricist Mehboob: The Line Between Film Music And Indie Music Has Blurred Lately

The line between film music and indie music has blurred lately, feels noted lyricist Mehboob, who has over 25 years of experience in the...

OTT Projects Based On Books

With OTT platforms experimenting with genres and content, there are a host of projects that are based on books. Lately, we have already had...

Something Screened On Your Phone Can Not Erase A Huge Screen, Says Boman Irani

Good writing is the need of the hour, feels actor Boman Irani, to sustain audience interest at a time when OTT provides a surfeit...

The Truth Behind Why Airliners Don’t Fly Over Tibet

BY- JAYA CHOUDHARY Airplanes can fly for thousands of kilometers across the globe. Rockets have landed men on the moon and Elon Musk plans to...

Symptoms Affecting Daily Life Post Covid Recovery

Are you a Covid-19 survivor, but still feel fatigued and not having fully recovered? You may be experiencing what is known as "Long Covid"....

Recent Comments