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RBI’S CONSUMER CONFIDENCE INDEX

RBI’S CONSUMER CONFIDENCE INDEX

Context:

Recently, the Reserve Bank of India released the report of the Consumer Confidence Survey. The survey was led in significant urban areas of the country with in excess of 5,000 respondents.

Key Points:

  • The Consumer Confidence Index reduced from 55.5 points in January 2021 to 53.1 points in March 2021.
  • The Future Expectations plunged from 117.1 in January 2021 to 108.8 in March 2021.
  • At the point when the list measure is over 100,, it signals optimism and while it is below 100, it represents pessimism.
  • Most of the consumers reported higher overall expenditure. As per the overview, this scenario is to proceed in the coming year regardless of the control in optional spending.
  • The consumer's assumption on the overall monetary circumstance and business circumstance for the year ahead was additionally negative.

Consumer Confidence Survey:

  • The Survey estimates consumer perception on 5 economic variables such as price level, employment, economic situation, spending and income.
  • It  has 2 main indices namely current situation index and future expectations index.
  • It is conducted every 2 months by the RBI.

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