Households see higher inflation but not promising growth prospects.
The survey highlights changing consumer sentiment towards sustainable food production, with 75% of consumers actively seeking information on their food and sustainability consumption and 70% research independent sustainability score on food labelling when choosing a product
The Consumer Confidence Survey’s Current Situation Index, which measures sentiment about current economic conditions, went down in May to 97.1 from a reading of 98.5 in March
Consumer sentiment is lower than what was in 2019, but has improved in recent months while firms have grown more optimistic under the current government
Analysts point to weak monsoon, stagnant incomes and inflation for the fall in sentiment, but expect strong festive demand.
Consumers are feeling a little put out by the persistent inflation. Indians are still pessimistic about employment prospects and the optimism for one-year ahead prospects have dimmed too
Note that while sentiment towards spending has vastly improved from the pandemic level, it is nowhere close to the strength it had before the pandemic
The consumer sentiment survey of the Reserve Bank of India shows that Indians are still pessimistic when it comes to discretionary spending.
Indian consumers are more optimistic than before about the prospects of employment and income. But inflation is adding a layer of caution when it comes to spending.
The Assocham president said that despite the outbreak of the second wave of COVID-19 and lockdowns across the country the association expects India's GDP to grow 9 to 10 percent in 2021-22.
Going forward, optimism on account of mass vaccination is expected to further boost consumption demand and work further towards restoration of the pre-pandemic spending and saving pattern, the RBI Bulletin said.
As many as 55 percent property seekers aged 25-35 years. Over 62 percent home seekers willing to pay premium for homes by established developers with least execution risk
The GICI (Genesis India Consumer Indicator) - a monthly indicator tracking consumer sentiment pan India across personal finances, business conditions and buying conditions) increased slightly in October to 62.43 from 61.38 in September, nearly matching the record high levels seen in July.
"The MNI India Consumer Sentiment Indicator decreased 2.6 percent on month-on-month basis to 111.6 in July, offsetting last month's pickup, which had left confidence running at a nine-month high of 114.7," it said.
Consumer sentiment perked up in June this year, as there was greater optimism towards buying conditions and business environment, with people showing increased willingness to purchase big-ticket items, according to a Deutsche Boerse report
The MNI India Consumer Sentiment Indicator rose to 111.2 in March from 108.9 in February, led by optimistic expectations for future finances and business conditions while sentiment towards spending took a backseat.
Though the impact of the blasts will be short lived and there won't be any substantial impact if consumer sentiment is not affected too much by it, says Bruno Verstraete of Lakefield Partners
Forex - Aussie down on weak housing data, consumer sentiment
Varun Berry, MD, Britannia, says the government should increase rural spending and work for better yields in agricultural output
Anemic consumer spending did little do change expectations that the Federal Reserve will raise interest rates next month as other data on Wednesday showed a surge in business spending plans in October and a drop in new applications for unemployment benefits last week.
Consumer sentiment in China edged up in November from a record low, as confidence in the labor market improved and consumers became more confident about the prospects for business conditions, a survey showed Wednesday.
Business outlook over the coming year was the hardest hit, with Business Conditions in One Year registering a 10.3 percent decline, while the Business Conditions in Five Years component fell 8.2 percent. Current and expected measures for household finances were also weaker, down 5.3 percent and 7.3 percent respectively.
Asia's oldest bourse BSE today said it's in the process of launching high-frequency job and consumer sentiment data from early next year to help policymakers and companies get a better grip of economy.
"RBI's more accommodative policy stance has helped stabilise consumer sentiment following the trend decline in 2014. While there are a few positives on the outlook for employment and business conditions, confidence is still bumping along at a lower level compared with last year," MNI Indicators Chief Economist Philip Uglow said.
Bhaskar Bhat, managing director, Titan Coampany hopes to continue with the margin improvement efforts in jewellery and watches through product mix enhancement rather than cost compression.