Consumer confidence for the current period declined for the second consecutive survey round after a prolonged rising trend in the post-Covid period, according to the bi-monthly consumer confidence survey released by the Reserve Bank of India.
Consumer sentiments on major parameters, except spending, moderated and as a result, the current situation index (CSI) declined to 93.9 in July 2024 from 97.1 two months earlier.
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Households’ optimism on economic conditions for the year ahead also decreased from the previous survey round. Lower optimism on the general economic situation, employment, and prices led to a 4.1-point decline in the future expectations index (FEI), which fell to 120.7 in July 2024.
Sentiments on the current employment situation and personal income deteriorated for the second consecutive survey round.
The survey collects current perceptions compared to a year ago, as well as one-year-ahead expectations of households regarding the general economic situation, employment scenario, overall price situation, personal income, and spending across 19 major cities. The latest round of the survey was conducted from July 2 to 11, 2024, covering 6,062 respondents. Female respondents accounted for 54.4 per cent of this sample.
