CONSUMER CONFIDENCE
SURVEY - ECONOMY
News: Consumers optimistic about
economic situation, income, employment for next one year: RBI survey
What's in the news?
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The most recent bi-monthly survey conducted by the
Reserve Bank of India (RBI), known as the Consumer Confidence Survey, revealed
a notable surge in consumer confidence, marking its highest level since
mid-2019.
Consumer Confidence
Survey (CCS):
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The Reserve
Bank of India (RBI) conducts a bi-monthly Consumer Confidence Survey to gauge consumers perceptions of the
prevailing economic situation.
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The survey is conducted across various cities and assesses consumer confidence on parameters such
as the economy, employment, prices,
income, and spending.
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Participants are surveyed regarding their
sentiments on various factors both in the current situation and looking ahead
to the future.
Key Findings of the
Survey:
1. Conduct and
Demographics:
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The survey for March 2024 was conducted from March
2 to 11, with over 6,000 participants contributing insights.
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Female respondents accounted for 50.8 percent of
the sample, ensuring a diverse representation.
2. Current Situation
Index (CSI):
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Measures overall consumer sentiment regarding the
present economic situation.
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Experienced a 3.4-point
increase compared to the previous survey, reaching 98.5, its highest level
since mid-2019.
3. Future Expectations
Index (FEI):
●
Analyzes consumer sentiment for the next 12 months.
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Saw a significant uptick, hitting its peak since
mid-2019, indicating a positive outlook for the coming year.
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CSI and FEI are compiled based on net responses on
economic situation, income, spending, employment, and price level for the
current and future periods.
4. Households Inflation
Expectation Survey:
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Shows a slight increase in the share of households
expecting overall prices and inflation to rise over the next three months and
one year.
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Reflects sentiments
on general prices and various product groups, compared to the previous
survey round.
5. Improvements in
Sentiments:
●
Notable improvements in households sentiments
regarding the general economic situation
and employment prospects, for both the present period and the upcoming
year.
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Highlighted positive outlooks for investment
activity in India, as emphasized by RBI Governor Shaktikanta Das.