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13 December 2021, Mumbai:
The current situation index (CSI) which had plunged to historic lows in July after the second wave of Covid infections increased to 62.3 in November from 57.7 in September.
Consumer confidence has continued to improve in November but remained in a pessimistic zone. The current situation index (CSI) which had plunged to historic lows in July after the second wave of Covid infections increased to 62.3 in November from 57.7 in September.
Also, households were more confident for the year ahead, as per a survey by the Reserve Bank of India (RBI).
Higher optimism for income and employment scenario buoyed on consumer sentiments and thereby, the future expectations index (FEI) continued its upward trajectory in the period under consideration.
"The perception for the general economic situation, employment scenario and household income displayed signs of recovery," the survey stated.
The bi-monthly survey studies perceptions and expectations of respondents on the general economic situation, employment scenario, overall price situation and their own income and spending levels, and 100 is the dividing line between pessimism and optimism, experts believe.
Meanwhile, with higher expenditure on essential items, households perceived a rise in overall expenditure.
Sentiments on non-essential expenditure, however, continue to be pessimistic and did not reflect improvement over the coming year.
Moreover, in terms of the economic situation, the current perception showed improvement but continued to be in negative terrain. The index stood at -54.2 in November as compared to -57.4 in September.
On price level and income, consumers' perception deteriorated since the previous survey.
While the price level stood at -94.5 in November as against -40.6 in July, income came in at -40.6, down from -47.8 in September.
Indian Retailer (The news article has not been edited by DFU Publications staff)
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