Consumer Confidence Rallies In Nov 2020 Surges By 2.6% Points: Report

Sentiment up for jobs, economy, personal finances, and investment for future

The monthly Refinitiv-Ipsos Primary Consumer Sentiment Index (PCSI) for India, shows recovery in November 2020. Consumer Confidence rallies by 2.6percentage points and shows recovery across the 4 indices, the barometers of consumer sentiment.

The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, has shown recovery across the 4 indices, in November 2020: The PCSI Employment Confidence (“Jobs”) Sub-Index has moved up by 1.3 percentage points; the PCSI Economic Expectations (“Expectations”) Sub Index, is up by 1.6 percentage points; the PCSI Current Personal Financial Conditions (“Current Conditions”) Sub-Index has increased by 3.7 percentage points; and the PCSI Investment Climate (“Investment”) Sub-Index has significantly moved up by 4.0 percentage points.

“November shows boost in consumer sentiment across metrics – there is uptick for personal finances, investments in big ticket items and recovery in perception seen for jobs and the economy. Several factors could be driving this optimism – festival spirit (which is infusing positivity), consumer friendly loans for investment and normalcy returning with businesses and employees returning to work. But will this sustain for the long term? It remains to be seen, as the pandemic is seeing a resurgence,” says the CEO of Ipsos India, Amit Adarkar.

These are findings of an Ipsos online poll conducted October 23, 2020 - November 6, 2020. For this survey, a sample of 500 adults from Ipsos' India online panel aged 16-64 years was interviewed online. As this is an online poll in India, representative of the online community in the country, it is not reflective of the general population; however, the online sample in is particularly valuable in their own right as they are more urban, educated and have more income than their fellow citizens and often referred to as “Upper Deck Consumer Citizens” or Primary Consumers. The precision of the Refinitiv/Ipsos online polls is measured using a Bayesian Credibility Interval. In his case, the poll has a credibility interval of plus or minus 5.0 percentage points for all adults. For more information on the Bayesian Credibility Interval please see