IGI Logo

The Reserve Bank of India (RBI) in its ‘July 2023 round of its bi-monthly consumer confidence survey (CCS)’ has stated that after persistent recovery for almost two years, consumer confidence for current period, as reflected in the current situation index (CSI), stood a shade lower than that witnessed in the previous survey round; improvement in respondents’ sentiment on income and spending was offset by somewhat higher pessimism on general economic and employment situation. 

The latest round of the survey was conducted during July 1-10, 2023, covering 6,047 respondents. Female respondents accounted for 50.2 per cent of this sample. The survey further noted that going forward, households expect improvement in general economic, employment and income conditions; they turned less pessimistic on one year ahead price situation vis-a-vis May 2023 round of the survey. 

The future expectation index (FEI) remained in optimistic terrain and recorded a marginal rise in the latest survey round. As per the report, sentiments on current income improved further and moved to optimistic zone for the first time in four years; future earnings expectations remain buoyant.