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The proportion of consumers anticipating a recession over the next 12 months too has dropped to its lowest since 2022, as also the percentage of consumers believing the economy was already in recession.
While the RBI surveys about the current situation on both income and employment have been largely negative, the future expectations survey paints a very different picture
On balance, India’s economic momentum remains intact, the July Monthly Economic Review said.
The South is more confident over economic conditions, even during tough times while the northern states exhibit more pessimism than the national average in consumer confidence. But when it comes to hope, the North wins
The 'future expectations index', which judges consumer sentiment for the upcoming 12 months, also improved to its highest level since mid-2019, the survey showed.
With GDP growth at 7.8 percent in the June 2023 quarter and 7.6 percent in the September quarter, why aren’t perceptions about income growth and employment growth in the RBI survey better?
Unlike the export-oriented economies of East and Southeast Asia or investment-driven China, it is domestic consumption that has powered India’s growth.
High inflation, which has remained a key concern for policymakers, has begun cooling off in recent months. The retail inflation rate dropped sharply for the second straight month, hitting an 18-month low of 4.7 percent in April, but still stays above the RBI's target of 4 percent.
The Reserve Bank of India released the result of its forward-looking surveys on April 6. And while it is mostly good news, a couple of issues stand out
While sales of mainstream vehicles is expected to be tepid, the luxury car market is riding a boom
The current situation index is now the highest since the pandemic started, but future expectations continue to be muted
Despite increasing in January 2022, consumer confidence - as measured by the RBI's Current Situation Index - remains firmly in the sub-100 pessimistic zone.
The Future Expectations Index (FEI) has improved from the September level, but it’s still lower than where it was during the period September 2020 to January 2021, when the first wave of the pandemic had ebbed and the second wave hadn’t started
The economy may currently be mired in a deep recession, but the RBI surveys show a revival of confidence and animal spirits
Almost half of those surveyed said they expect job prospects to worsen in the year ahead
Consumer perceptions about jobs, incomes and non-essential spending continue to worsen
With a fear of budget deficit at a time when a number of critical sectors are in need for finance, this is going to be one of the most challenging budgets.
Outlook towards quality of life in India remains high, Mastercard said, with stable growth from the previous index findings.
Besides, cautionary spending by consumers towards the end of 2016 still had some impact on the quarter under consideration, it said.
According to the March 2017 round of the Consumer Confidence Survey, “The Current Situation Index entered into the pessimistic zone to 98.7 in March 2017 (from 102.0 in December 2017) due to worsening sentiments on economic conditions and price situation.”
India's consumer confidence is highest compared to other emerging market peers despite the near-term sentiment being adversely impacted by the Centre's demonetisation move, says a survey.
The Consumer Confidence Index score for India decreased by six points to 128 in the April-June quarter of 2016, from a high of 134 in the first quarter, the company said in a statement.
The MNI India Consumer Sentiment Indicator rose 2 percent to 113.4 last month from 111.2 in March.
Although more than 54 percent polled said India's economy is still in slowdown zone, its consumer confidence score remained intact at 131, said global information and insights provider Nielsen.
