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Consumer confidence recovers marginally in June: Report

A statement by Ipsos said that the minor revival comes after record falls in April and May.

IANS | New Delhi |

Consumer confidence in India has witnessed a minor recovery of 0.4 percentage points in June after the lifting of the lockdown restrictions, according to the monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI).

A statement by Ipsos said that the minor revival comes after record falls in April and May.

“Easing of restrictions and some bit of normalcy returning with commercial activities, have halted the free fall of the consumer sentiment to some extent,” said Amit Adarkar, CEO, Ipsos India.

The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, has seen a minor upturn in June 2020, after much pessimism in May and April. The PCSI Employment Confidence Sub-Index continues to be in the doldrums and has fallen by 3.4 percentage points and the Economic Expectations Sub Index, has surged by 3.2 percentage points.

It added that the PCSI Investment Climate Sub-Index has moved up by 2.1 percentage points; and the PCSI Current Personal Financial Conditions Sub-Index too is up by 1.2 percentage points, over the previous month.

Adarkar however said that it is too early to read any sustainable positivity.

“Notably, the job market continues to be dismal. For sustaining positive sentiment, it is critical for people to have confidence in their job security,” added Adarkar.