Consumer Sentiment continues downward slide in May, after April’s dip: Refinitiv-Ipsos India PCSI

Consumer Sentiment has continued its downward slide in May (after April’s dip in sentiment), is down 0.6 percentage points, according to the Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI) monthly report for India.

The sentiment has dipped for at least 3 of the 4 sub-indices. The Investment Climate (“Investment”) Sub-Index is down 0.7 percentage points;  the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has decreased 1.2 percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, is equivalent to last wave; and the PCSI Employment Confidence (“Jobs”) Sub-Index is down 0.2 percentage points, over the previous month.

Commenting on the findings of the Refinitiv-Ipsos  PCSI monthly survey, Amit Adarkar, Ipsos India, CEO said, “Rising fuel prices and inflation have impacted personal finances for day to day running of households the most. Cost of living is steadily increasing due to the ongoing Ukraine war, as the cost of crude oil price per barrel is steadily increasing on a daily basis. The war needs to end soon, else it will negatively impact most global economies of the world, including that of India in the long term. This is worrisome for India, as it is already trying hard to recover from the collateral impact of the pandemic, looking to rebound.”   

           
India PCSI 2016-2022 Trend

Methodology

These are findings of an Ipsos online poll conducted April 22, 2022 – May 6,2022.  For this survey, a sample of 500 adults from Ipsos' India online panel  aged 16-64 years was interviewed online. As this is an online poll in India, representative of the online community in the country, it is not reflective of the general population; however, the online sample in is particularly valuable in their own right as they are more urban, educated and have more income than their fellow citizens and often referred to as the “Upper Deck Consumer Citizens” or Primary Consumers. The precision of the Refinitiv/Ipsos online polls is measured using a Bayesian Credibility Interval. In his case, the poll has a credibility interval of plus or minus 5.0 percentage points for all adults. For more information on the Bayesian Credibility Interval please see  http://www.ipsos-na.com/news-polls/pressrelease.aspx?id=5836

The Refinitiv/Ipsos India Primary Consumer Sentiment Index (PCSI), ongoing since 2010, is a monthly national survey of consumer attitudes on the current and future state of local economies, personal finance situations, savings and confidence to make large investments. The Index is composed of four sub-indices: Current Conditions Index; Expectations Index; Investment Index; and, Jobs Index.