India s consumer confidence worsens in May amid severe COVID crisis
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The consumer confidence in India has further weakened in May amid the severe COVID crisis and the resultant lockdowns across states.
The monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI) for India, in May, has shown a sharp drop of 6.3 percentage points, over April 2021, amid COVID-19 fears.
The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, has plunged across all sub-indices. The PCSI Employment Confidence Sub-Index is down by 4.7 percentage points, the PCSI Current Personal Financial Conditions Sub-Index has steeply fallen by 9.0 percentage points.
Further, the PCSI Investment Climate Sub-Index has sharply declined by 8.4 percentage points and the PCSI Economic Expectations Sub Index, has decreased by 4.4 percentage points.
Will the second Covid wave hit consumption demand in India?
Will the second Covid wave hit consumption demand in India?
Consumption patterns in India havenât been largely impacted by the global pandemic. The fourth-quarter results have shown strengthening recovery and an increase in demand especially in the packaged food and hygiene product segment.
However, the second Covid wave, which intensified in April, is putting a question mark on the sustenance of recovery.
In an analyst call on Tuesday, Jon R. Moeller Vice Chairman and Chief Operating Officer, Proctor and Gamble pointing out the health situation in markets like India, Brazil, Turkey, said it is worse than it s ever been. âThese markets do not have the healthcare infrastructure, nor the financial means to provide subsidies to their citizenry. And as a result, when this happens, employment is affected, consumption is affected, GDP is down significantly in some of these markets,â he said.
Consumer confidence weakens in April amid sharp surge in Covid-19 cases
Consumer confidence weakens in April amid sharp surge in Covid-19 cases
A recent survey has indicated that consumer confidence has fallen among urban Indians in April due to a sharp rise in coronavirus cases. it noted that consumer sentiment is down across all four indices including jobs, personal finances, economy and future investments.
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UPDATED: April 22, 2021 14:49 IST
Consumer confidence has deteriorated for a second straight month as Covid-19 cases conitnue to rise sharply in India. (Photo: Reuters/Representational image)
Consumer confidence has dropped in April as Covid-19 cases continue to surge sharply across the country. According to the monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI) survey, confidence among urban Indians weakened by 1.1 percentage points in April 2021.
Demand for non-essential items plummet amid Covid surge, businesses worried
Demand for non-essential items plummet amid Covid surge, businesses worried
Demand for non-essential items has fallen by at least 50 per cent in the wake of tighter Covid-19 restrictions and uncertainty about the future economic outlook. Many businesses are facing massive losses as a result.
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UPDATED: April 22, 2021 16:01 IST
Localised lockdowns in most parts of the country have lower demand for non-essential items. (Photo: PTI/Representational image)
Indian households have reduced spending on non-essential items and demand for discretionary goods has plummeted as a result. Demand for discretionary or non-essential items have fallen 50 per cent due to localised Covid-19 restrictions, reported The Economic Times.
Consumer confidence among urban Indians weakened by 1.1 percentage points in April 2021 amid a surge in COVID-19 cases inthe country, as per a monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI) survey. Consumer sentiment was down across all 4 indices jobs, personal finances, economy and investments for the future, the survey said. The online survey was conducted between March 26, 2021, and April 9, 2021. A sample size of 500 adults from Ipsos India online panel aged 16-64 years were interviewed. The monthly PCSI is driven by the aggregation of the four weighted sub-indices. PCSI Employment Confidence (Jobs) sub-index is down by 0.6 percentage points, Current Personal Financial Conditions (Current Conditions) sub-index fell 1.5 percentage points, and Investment Climate (Investment) sub-index declined 0.9 percentage points.