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  • Consumer sentiment dips in June, yet India holds onto highest national index score: LSEG-Ipsos PCSI June 2024

    Consumer sentiment dips in June, yet India holds onto highest national index score: LSEG-Ipsos PCSI June 2024

    Mumbai: Consumer sentiment has weakened and dipped -2.6 percentage points in June 2024, though notably India continues to lead with the highest national index score across all 29 markets polled, according to the LSEG-Ipsos primary consumer sentiment index (PCSI) June 2024 wave.

    The LSEG-Ipsos survey also maps consumer sentiment across four sub-indices and all of them have seen a drop this month: the PCSI employment confidence (“Jobs”) sub- index, is down -4.6 percentage points; the PCSI current personal financial conditions (“Current Conditions”) sub-index is down -0.7 percentage points; the PCSI investment climate (“Investment”) sub-index too is down -0.6 percentage points; and the PCSI Economic expectations (“Expectations”) sub-index is down -6.4 percentage points.

    Elaborating on the findings of the survey, Ipsos India CEO Amit Adarkar said, “Confidence around personal and household expenses is still stable and same goes for investments in savings and big-ticket purchases. It is the confidence around the economy and jobs that has seen a significant drop. Some of the impact is due to macro conditions, with the global economic slowdown and job cuts and further, with the new government in the saddle and the union budget yet to be announced, the overall approach is cautionary and tardy. It has also been a hot summer with the farm sector impacted due to drought in some. Monsoons could bring back some cheer and a growth-oriented budget announcement in July 2024.”

    “Even The Reserve Bank of India (RBI) warned mid June that the exceptionally hot summer and low reservoir levels could stress the summer crops of vegetables and fruits, potentially disrupting efforts to control inflation. And while overall inflation has eased, food prices remain volatile and elevated, complicating the inflation battle,” added Adarkar.

    How global markets stack up

    The global consumer confidence index is the average of all surveyed countries’ overall or “National” indices. This month’s installment is based on a monthly survey of more than 21,000 adults under the age of 75 from 29 countries conducted on Ipsos’ Global Advisor online platform. This survey was fielded between 24 May and 7 June 2024.

    Consumer sentiment in 29 countries

    Among the 29 countries, India (65.2) continues to hold the highest national index score. India and Indonesia (63.2) are the only countries with a national index score of 60 or higher.

    Ten other countries now show a National Index above the 50-point mark: Singapore (58.1), Mexico (57.2), the Netherlands (55.2), Thailand (55.2), Sweden (54.7), Great Britain (53.9), the U.S. (53.8), Malaysia (52.9), Brazil (52.3), and Australia (50.5).

    In contrast, just five countries show a National Index below the 40-point mark: South Korea (39.5), Japan (37.7), Hungary (37.0), Peru (36.7), and Türkiye (29.1).

  • Consumer confidence plummets in March 2019

    Consumer confidence plummets in March 2019

    MUMBAI: The India Primary Consumer Sentiment Index (Consumer Confidence), as measured by Thomson Reuters in partnership with Ipsos, has nosedived by 6.8 percentage points in March 2019.

    The monthly PCSI result which is driven by the aggregation of the four, weighted, sub-indices, has seen a sharp fall across all of them: the PCSI Employment Confidence (“Jobs”) Sub-Index, is down by a glaring 7 points; the PCSI Economic Expectations (“Expectations”) Sub Index, which has sharply fallen by 10.9 points; the PCSI Investment Climate (“Investment”) Sub-Index which has dropped by 6.1 points; and the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index which is down by a significant 4.9 percentage points over last month.

    “The survey was fielded in last week of February and first week of March, amidst tensions on Pakistan border. The near-war conflict sharply pulled down the already sliding consumer confidence. It once again proves that consumer and economy do not want war – rather afraid of it. This factor strongly clouded the fear around rise in inflation and lack of jobs. Since our respondents are largely urban – for the salaried ones it is also the time for tax saving investment, leading to temporary cash crunch. All these factors have a cascading effect, adding to pessimism,” says Ipsos India country service lines group leader, public affairs, corporate reputation & customer experience Parijat Chakraborty.

  • Consumer Sentiment Up: Ipsos Thomson Reuters PCSI July 2018

    Consumer Sentiment Up: Ipsos Thomson Reuters PCSI July 2018

    MUMBAI: Consumer Sentiment in India in July has surged by 2.3points over last month as per the Ipsos Primary Consumer Sentiment (Consumer Confidence) Index (PCSI) conducted in partnership with Thomson Reuters. 

    The monthly PCSI result is driven by the aggregation of the four, weighted, sub-Indices: the PCSI Employment Confidence (Jobs), Sub-Index which is up 3.6 points; the PCSI Economic Expectations (Expectations) Sub-Index which is up 2.6 points; the PCSI Investment Climate (Investment) Sub-Index which is up 1.6 points; and the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index which is up 0.7 percentage points over last month.

    “Boost in consumer sentiment bodes well for the economy. Which means the consumer islikely to loosen his purse strings for spending and that there is liquidity in the market.Interestingly, consumer is confident on all fronts, whether it is to do with jobs, performance of the economy, investment climate/investment in big ticket items and personal savings. There is a form of stabilityin the economy, now that the post GST disruption has worn off and the Indian economy is placed in the sixth place, having overtaken France, as per the latest World Bank Report. Ergo, there is optimism seen in consumers,” says Parijat Chakraborty, Executive Director, Ipsos Public Affairs.”