Indians optimistic on economy’s recovery after a year: RBI survey

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Consumers in India are in a view that the country is not performing well in terms of jobs. However, they do believe that the condition will improve after a year.

These revelations were made by the Reserve Bank of India’s (RBI’s) September round of the Consumer Confidence Survey.

Economy GrowthThe survey reflects households’ perceptions and expectations on the general economic situation, the employment scenario, the overall price situation and their own income and spending. It reported that the consumers are pessimistic about the current situation.

As reported in the survey, the Consumer Confidence Index dropped to 94.8 points from 98.3 in the previous June 2018 round of the survey. However, one-year-ahead expectations of the consumers inflated to 121.1 points from 119.8 points in the June 2018 round.

The current situation index as reflected in the September 2018 reports worsening of consumers’ perception in terms of general economic situation and the job scenario.

RBI conducted the survey across 13 major cities such as Ahmedabad, Bengaluru, Bhopal, Chennai, Delhi, Guwahati, Hyderabad, Jaipur, Kolkata, Lucknow, Mumbai, Patna and Thiruvananthapuram and obtained collected 5,364 responses on various issues.

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