Skip to main content

RBI survey: Consumer confidence on jobs, economic situation deteriorates

Consumer Confidence Indices
By Rajiv Shah 
Results of the Consumer Confidence Survey (CCS), carried out by the Reserve Bank of India (RBI) for November 2018, suggest that growing pessimism on general economic situation and employment scenario. Conducted in 13 major cities – Ahmedabad, Bengaluru, Bhopal, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Patna and Thiruvananthapuram - RBI said, "Future expectations index (FEI) also moderated due to lower optimism on the employment scenario and household spending."
Based on 5,326 responses on households’ perceptions and expectations on the general economic situation, the employment scenario, the overall price situation and their own income and spending, the survey results show, to quote RBI, that the current situation index (CSI) "declined further in November 2018 in a phase that commenced in November 2016, on the back of growing pessimism on the general economic situation and the employment scenario as also some cutback in spending."
RBI further said, "Current sentiment on the general economic situation dipped further into the pessimistic zone, while the outlook for the year ahead was broadly unchanged from the previous round of the survey." It added, "Sentiment on the employment scenario also deteriorated for the current period and for the one year ahead horizon."
According to RBI, "Notwithstanding a marginal improvement in sentiment, consumers remained pessimistic about the price situation... In contrast, respondents’ assessment on the income situation for the current year improved, and they also expressed optimism about their income one year ahead... There was moderation in sentiment on households’ spending with cutbacks expected in expenditure on non-essential items."

Comments

Post a Comment

TRENDING

Israel’s political deadlock: Arab parties may emerge as potential kingmakers

By Raj Kumar Sinha*  The final results of Israel’s recent general election have produced a deeply divided parliament, placing Arab-led political parties in a potentially decisive position in determining the country’s next government. Prime Minister Benjamin Netanyahu and his right-wing alliance have secured 53 seats in the 120-member Knesset, while the opposition alliance led by Gadi Eisenkot has won 48 seats. Arab-led parties have secured 19 seats. Since a majority of 61 seats is required to form a government, neither of the two main political blocs has the numbers needed to govern independently.
Post a Comment
»

Beyond outrage: What the Panchkula school assault reveals about India’s juvenile justice

By Mohd. Ziyaullah Khan  Some tragedies provoke public anger; others force a society to confront its systemic blind spots. The alleged assault on a six-year-old girl by an eight-year-old classmate inside a government school in Panchkula, Haryana, falls squarely into the latter category. 
Post a Comment
»

100,000 dead, 4 million displaced: Myanmar's post-coup war grinds on as the junta loses ground

By Nava Thakuria*  At least 100,000 people, including civilians, have been killed in Myanmar's conflicts since the military coup of 1 February 2021, according to the UN. Kelley Anne Eckels-Currie, UN Special Rapporteur on human rights in Myanmar, gave the figure to the UN General Assembly in New York on 27 October 2026. She called President Min Aung Hlaing a tyrant who still deliberately attacks civilians to force them into submission.
Post a Comment
»