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Consumer Confidence of urban Indians has continued its rally in September, showing a 2 percentage points upswing, according to the Refinitiv-IpsosPrimary Consumer Sentiment Index (PCSI).

The monthly PCSI, which is driven by the aggregation of the four weighted sub-indices, has shown more improvement in September, over the previous month.

The PCSI Employment Confidence ("Jobs") Sub-Index is up by 1.6 percentage points, the PCSI Economic Expectations ("Expectations") Sub-Index is up by 2.1 percentage points, the PCSI Investment Climate ("Investment") Sub-Index has increased by 2.1 percentage points, and the PCSI Current Personal Financial Conditions ("Current Conditions") Sub-Index has moved up by 2.7 percentage points.

"Under-control Covid situation and the heightened vaccination drive have manifested in improved consumer sentiment in September. This is the fourth month (since May) that consumer sentiment has moved up sequentially. With this, consumer sentiment is back to the levels seen before the second wave hit us," Ipsos India CEO Amit Adarkar said.

"The key takeaway is that consumers are buoyant in the present about personal finances for day to day running of households, they have money for savings and investments for big ticket purchases, they are confident about the economy and there is confidence around jobs. If things go well, marketers could look forward to a good festival season and sustained positive outlook in the October-December period," he added.

For the consumer confidence survey, a sample of 500 adults from Ipsos' India online panel aged 16-64 was interviewed online.

The Refinitiv/Ipsos India Primary Consumer Sentiment Index (PCSI), ongoing since 2010, is a monthly national survey of consumer attitudes on the current and future state of local economies, personal finance situations, savings and confidence to make large investments.