Consumer confidence plunges 2.9 percentage points in June- Report

Mumbai, July 13 (IANS): The consumer confidence index was down by 2.9 percentage points for the month of June, owing to the dismal performance of the economy and as consumers continued to reel under high cost of living and shortage of funds for daily spends and investments.

India Primary Consumer Sentiment Index, as measured by Thomson Reuters in partnership with Ipsos, which is driven by the aggregation of the four weighted sub-indices, showed a dip in three of the sub-indices.

While the PCSI Employment Confidence sub-index bounced back after last month’s slump, and is up by 2.0 percentage points, the PCSI Economic Expectations sub-index fell by 0.8 percentage points.

The PCSI Investment Climate sub-index has dropped by a significant 5.8 percentage points and the PCSI Current Personal Financial Conditions sub-index has plunged by 6.3 percentage points over last month.

The findings of this Ipsos online poll was conducted between May 24 and June 7 in which a sample of 500 adults, aged 16-64 and mostly consisting of “Upper Deck Consumer Citizens”, were interviewed online.