RBI Survey: Indian consumer confidence hits highest level in nearly 5 years

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The latest bi-monthly survey conducted by the Reserve Bank of India (RBI) unveiled a remarkable surge in consumer confidence, reaching its peak since mid-2019. 

The survey, released on April 5, showcased an optimistic trend, reflecting a positive sentiment among respondents across various economic parameters.

Conducted between March 2 and 11, the survey encompassed insights from 6,083 participants, with female respondents comprising 50.8 percent of the sample. 

According to the survey findings, respondents demonstrated a positive assessment across all parameters, leading to a notable rise in the current situation index (CSI) by 3.4 points to 98.5, marking its highest level since mid-2019.

The CSI measures overall consumer sentiment regarding the present economic situation.

Moreover, the ‘future expectations index’, which analyses consumer sentiment for the next 12 months, also witnessed a substantial uptick, hitting its peak since mid-2019. The Future Expectations Index (FEI) surged by 2.1 points to 125.2, underscoring a positive outlook for the forthcoming year.

The survey also highlighted improvements in households’ sentiments regarding the general economic situation and employment prospects, both for the present and future years. 

Data also showcased a rise in capacity utilisation within the manufacturing sector, reaching 74.7% in October-December 2023 from 74% in the previous quarter.

“The prospects of investment activity remain bright owing to upturn in the private capex cycle becoming steadily broad-based, persisting and robust government capital expenditure, healthy balance sheets of banks and corporates, and rising capacity utilisation,” RBI Governor Shaktikanta Das said in his monetary policy speech, on Friday.

 



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