Consumer confidence drops sharply in September

New Delhi: Consumer confidence declined in September due to worries about savings, investment and personal finances for household expenses, says a survey.  The Consumer Confidence Index fell 6.6 percentage points as consumers were worried about various factors such as personal finances for day to day running of the household, savings and investments, said Indian Primary Consumer Sentiment Index for the month of October.

Besides, there are concerns over job opportunities and performance of the economy, it added. Employment Confidence sub-index is down 4.3 points, Economic Expectations sub index is also 3.9 points over last month.

“Rise in fuel prices, crumbling stock market, trade wars between the US and China, financial scams in repayment for large banks, have all had a domino effect and led to drop in overall consumer sentiment, particularly for Current Personal Financial Conditions” said Ipsos Public Affairs Executive Director Parijat Chakraborty.These are findings of an Ipsos online poll conducted September 21, 2018 – October 5, 2018. For this survey, 500 adults from Ipsos’ India online panel aged 16-64 were interviewed online.

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