According to the Reserve Bank of India's (RBI) recent survey released on Monday, consumer confidence in the country during the current period remained stable. The survey, conducted from November 2-11, covered 6,082 respondents across 19 major cities.
The current situation index, reflecting perceptions of the general economic situation and employment, held steady at 92.2, despite increased pessimism in these areas being offset by a positive shift in sentiments regarding current income. The survey indicated that households' assessment of current earnings reached its highest level since July 2019, with improved expectations for future income.
However, consumers maintained negative sentiments about current and future price conditions. While respondents expressed optimism about one-year-ahead prospects for the general economic situation, employment, income, and spending, confidence levels in economic and employment conditions slightly dipped compared to the previous survey, resulting in a moderation of the future expectations index.
Key Points:
1. The RBI's recent consumer confidence survey, conducted in November 2023, reported stable consumer confidence for the current period.
2. Despite increased pessimism regarding the current general economic situation and employment, a positive shift in sentiment regarding current income balanced the overall stability.
3. The current situation index maintained at 92.2, indicating no change from the previous consumer survey round.
4. Household assessment of present earnings reached its highest level since July 2019, with improved expectations for future income. However, negative sentiments persisted regarding both current and future price conditions.
5. The survey, spanning 19 major cities, gathered perceptions and one-year-ahead expectations on economic status, employment, overall price trends, income, and spending.
6. Respondents expressed optimism about future prospects concerning general economic conditions, employment, income, and spending. However, confidence in economic and employment conditions slightly declined compared to the previous survey, leading to a moderation in the future expectations index (FEI).
7. The FEI remained positive despite the slight decline in confidence in economic and employment conditions, signaling ongoing optimism about future scenarios.
8. The survey, conducted from November 2-11, encompassed 6,082 respondents, with female respondents accounting for 52.8% of the sample.
9. The survey captures a mixed sentiment among consumers, highlighting positive expectations for future aspects like income and spending, despite concerns regarding current economic and employment situations.
10. These findings reflect the nuanced perspectives of consumers, depicting both positive and negative outlooks on various economic parameters, influencing the overall stability of consumer confidence in the country.
(With Agency Inputs)
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