Shoppers at a market in Delhi. (REUTERS/Adnan Abidi)
The uptick in consumer sentiment is a definitive harbinger of economic recovery after a rather strenuous pandemic year
- News18.com New Delhi
- Last Updated: January 21, 2021, 21:43 IST
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The monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI) for India surged by 4.7 percentage points in January, reaching pre-pandemic levels for the first time since the outbreak crippled world economy.
The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, has shown improvement across the four indices this month. The PCSI Employment Confidence Sub-Index is up by 2.5 percentage points, the PCSI Economic Expectations Sub-Index by 3.5 percentage points, the PCSI Current Personal Financial Conditions Sub-Index by 6 percentage points and the PCSI Investment Climate Sub-Index has soared by 6 percentage points.
“India is clearly in recovery mode; we are witnessing a bounce back. All these indicators validate how as a market we are getting back on the grid and the consumer sentiment is seeing an upturn. What is especially heartening is the increase in PCSI Employment Confidence as this is a harbinger of sustained consumer confidence. The jump in January across all four indices is the sharpest since the pandemic hit us. The upcoming budget will show us the way forward on which way consumer sentiment/ spends will go,” said Amit Adarkar, CEO, Ipsos India.
The findings are from an Ipsos online poll conducted between December 25, 2020, and January 8. As part of the survey, 500 people in the age group of 16-64 were interviewed online.