The current situation index (CSI) dropped to 85.7 last month from 89.4 in September.
The Reserve Bank of India’s consumer confidence survey (CCS) released on Thursday reported a further drop in consumer confidence in November as households remained pessimistic about jobs and the general economic situation.
The current situation index (CSI) dropped to 85.7 last month from 89.4 in September. The future expectations index (FEI) also fell to 114.5, down from 118 in September. “Consumers’ sentiments on the general economic situation and the employment scenario weakened, but their one-year ahead expectations remained in the optimistic terrain for all parameters, except prices; expectations on income one-year ahead improved marginally over the previous survey round,” said the RBI survey.
It said most respondents perceived prices as having increased during the last one year, and they expect a further rise in prices in the year ahead while households’ sentiments on overall spending remained resilient. RBI’s CCS was conducted in 13 major Indian cities including Delhi and Mumbai. It obtained data from 5,334 households across these cities on perceptions and expectations on the general economic situation, the employment scenario, the overall price situation and own income and spending.