Consumer confidence in Modi’s economics is falling, but wait, it’s not all bad news

Consumer confidence in Modi’s economics is falling, but wait, it’s not all bad news

India News

Once 7th most economically confident country India is losing its consumer confidence — and constantly, but it’s not all bad news. Consumer sentiment in India’s has dipped by 0.1 percentage point in April and has been on a downward trajectory since Jan 2018, but a positive outlook for job creation in the country is arresting any further drop in consumers’ sentiment, a survey by global research firm Ipsos has said.Primary Consumer Sentiment Index (PCSI) for the month of April showed that there has been an overall drop in consumers sentiments but it has gone up as much as 0.4 percentage points on the jobs front. The PCSI Employment Confidence Sub Index is up 0.4 points; Economic Expectations Sub Index is down 0.2 points; Investment Climate Sub Index is down 0.2 points and Current Personal Financial Conditions Sub Index which is up 0.2 percentage points over last month.Consumer sentiment for India has been sliding since January 2018, through February 2018, March 2018 and now for the fourth consecutive month in April 2018. “While two economic indices, i.e. Economic Expectations and Investment Climate are on a downward trend, the positive movement of Employment Confidence is arresting the further drop in overall Consumer Sentiment. Positive outlook of job scenario is also boosting the confidence on Personal Financials,” says Parijat Chakraborty, Executive Director, Ipsos Public Affairs.The survey was conducted by Ipsos took two 500 adults from Ipsos’ India online panel aged 16-64 years. It said that the sample for the survey reflected urban, educated and well to do population of the country and was not reflective of the general population.