Consumer Confidence of Indians in September has slipped 0.6 percentage points, according to the latest India Primary Consumer Sentiment Index (PCSI), as measured by Thomson Reuters, in partnership with Ipsos - PCSI had declined by 3.1 percentage points in August 2019 and except for a slight uptick (of 0.6 percentage points) in July 2019, this downward trend has been continuous since May 2019.
The monthly PCSI which is driven by the aggregation of the four weighted sub-indices, in September shows that at least three of the sub-indices continue to be on downward spiral, with only Economic Expectations Sub Index showing recovery: the PCSI Employment Confidence (“Jobs”) Sub-Index is down by 1.0 percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, is up by 1.4 percentage points; the PCSI Investment Climate (“Investment”) Sub-Index has receded by 1.2 percentage points; and the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has fallen by 1.9 percentage points, over last month.
“It is clear, there is a slowdown and Indians are impacted. Since May this year, consumers have been lesser confident month-on-month, about finances, investment and jobs. Hopefully, the recent reduction in corporate tax and early spirit of festivals would arrest the downward spiral and boost the sentiment upward,” says Parijat Chakraborty, Country Service Line Leader, Public Affairs & Corporate Reputation, Ipsos India.
India PCSI 2013-2019 Trend
These are findings of an Ipsos online poll conducted August 23, 2019-September 6, 2019. 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 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 “Upper Deck Consumer Citizens” or Primary Consumers. The precision of the Thomson Reuters/ 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.
The Thomson Reuters/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.
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