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Home / Economy / Consumer confidence continues to improve


CONSUMER CONFIDENCE CONTINUES TO IMPROVE

Premium The current situation index improved from 64.4 in the previous survey
conducted in January to 71.7 in March, the findings of the latest survey showed.
2 min read . Updated: 09 Apr 2022, 05:47 AM IST Swaraj Singh Dhanjal

 * Sentiments  on  economic  situation,  jobs,  income  improved, shows  RBI 
   survey



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Mumbai: Indian consumers’ perception of current and future economic conditions
continues to improve despite geopolitical challenges and concerns over rising
inflation, according to the latest Consumer Confidence Survey conducted by the
Reserve Bank of India (RBI) for the 2-11 March period.



“Consumer confidence for the current period continued on its recovery path,
witnessed since mid-2021, though the assessment compared to a year ago remained
in negative zone. The current situation index improved further in March on the
back of improved sentiments on general economic situation, employment, and
household income," the survey noted.

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The current situation index improved to 71.7 in March, from 64.4 in the previous
survey, conducted in January.



The survey obtains current perceptions compared to a year earlier and
one-year-ahead expectations on the general economic situation, employment,
prices, and own income and spending. It was conducted across 5,984 households in
19 cities.

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The survey showed improvements across all categories with consumer perception of
the overall economic situation improving from -48.9 in the previous survey to
-40.5. Perceptions about the employment situation improved from -48 to -35.9.

Consumers were also more positive about their incomes and spending, with
perceptions on income improving from -37.4 to -26, and those on spending rising
from 48.4 to 53. “Households’ opinion about current and future spending remained
in the positive territory and was bolstered by a rise in both essential and
discretionary spending," it noted.

However, consumers retained their glum view of commodity prices at -92.1,
improving a tad from -92.3 in the previous survey. The survey showed that the
one-year ahead outlook, as measured by the future expectations index (FEI), also
continued on its recovery path which was interrupted by a dip in the January
round at the peak of Omicron wave of covid-19. The overall future expectations
index improved from 103.3 in January to 115.2 in March.

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On the inflation front, households’ median inflation perceptions for the current
period remained unchanged at 9.7% in the latest survey round, while expectations
for both three months and one year ahead rose by 10 basis points each to 10.7%
and 10.8%, respectively, as compared to the January round, showed RBI’s
Households’ Inflation Expectations Survey.

“For a majority of population and age groups, uncertainty in inflation
expectations increased for both three months and one-year horizons, as compared
to the previous survey round. Three-month-ahead expectations for overall prices
and inflation were generally aligned to those for food and non-food products,
while one-year-ahead expectations were more aligned to those for non-food
products and services," it noted.


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