Consumer confidence tad up in May, jobs stays a worry

The consumer confidence in the country increased 0.3 percentage points in May on a month-on-month basis, according to a joint study by Thomson Reuters and Ipsos.

In April, the India primary consumer sentiment index (PCSI) had risen 9.9 percentage points.

"The monthly PCSI, driven by the aggregation of the four weighted sub-indices, has sluggishly moved up in May as optimism is not all pervasive," said the report.

The PCSI employment confidence (jobs) sub-index was down 3.1 percentage points, while the PCSI economic expectations sub-index declined 2.5 percentage points, it showed.

The PCSI investment climate sub-index, however, moved up 2.8 percentage points and the PCSI current personal financial conditions sub-index rose 3.4 percentage points over April.

"The consumer sentiment is marginally up. Consumers are feeling confident about their personal financial condition and are also optimistic about savings and investments," said Parijat Chakraborty, Country Service Line Leader, Ipsos Public Affairs, Corporate Reputation and Customer Experience.

"But all is not hunky-dory for them. They are a tad worried about the country's economy and job creation," Chakraborty remarked.

--IANS

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