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Survey shows a dip in consumer confidence

“Shopper confidence for the present interval weakened in March as the present state of affairs index dipped additional in damaging territory on the again of deteriorating sentiments on basic financial state of affairs, earnings and costs,” mentioned the survey.

By Kalpana Pathak

PUBLISHED ON APR 08, 2021 07:45 AM IST

Shopper confidence and future expectations in India fell in March, a Reserve Financial institution of India (RBI) survey discovered, as rising coronavirus circumstances forged a cloud over the financial system.

The patron confidence index fell to 53.1 in March 2021 from 55.5 in January 2021, the RBI survey launched on Wednesday confirmed. “Shopper confidence for the present interval weakened in March as the present state of affairs index dipped additional in damaging territory on the again of deteriorating sentiments on basic financial state of affairs, earnings and costs,” mentioned the survey.

Future expectations dipped to 108.eight from 117.1 throughout the interval. The moderation was pushed by decrease expectations on the financial state of affairs, the employment state of affairs and earnings circumstances. An index worth beneath 100 represents pessimism, whereas above 100 indicators optimism.

“Respondents expressed decrease optimism for the yr forward, which was mirrored sooner or later expectations index (FEI); one yr forward sentiments on all main parameters besides costs, nonetheless, remained in optimistic terrain,” the survey mentioned.

The survey carried out by discipline interviews between February 27 and March eight in 13 cities recorded perceptions and expectations on basic financial state of affairs, employment state of affairs, total value state of affairs and personal earnings and spending from 5,372 households.

With greater important spending vis-à-vis a yr in the past, most shoppers reported greater total expenditure, which is anticipated to extend additional within the coming yr regardless of persevering with moderation in discretionary spending.

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