Households’ optimism on economic conditions for year ahead remains in positive: RBI survey
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The Reserve Bank of India (RBI) in its latest survey report has showed that households’ optimism on economic conditions for the year ahead remained in positive terrain, though it came down from the previous survey round. It said lower optimism on general economic situation, employment and prices led to 4.1 point moderation in the future expectations index (FEI) to 120.7 in July 2024. According to the survey report, sentiments on current employment situation and own income deteriorated for the second consecutive survey round. Besides, the outlook for both these parameters also moderated within the zone of optimism.
The results of July 2024 round of its bi-monthly consumer confidence survey (CCS) have been released by RBI. The survey collects current perceptions (vis-a-vis a year ago) and one year ahead expectations of households on general economic situation, employment scenario, overall price situation, own income and spending across 19 major cities. The latest round of the survey was conducted during July 2-11, 2024, covering 6,062 respondents. Female respondents accounted for 54.4 per cent of this sample.
The survey report also showed that consumer confidence for current period declined for the second consecutive survey round after prolonged rising trend in the post-Covid period and their sentiments on major parameters, except spending, moderated and, as a result, the current situation index (CSI) declined to 93.9 in July 2024 from 97.1 two months earlier.
