Consumer sentiment took a hit in July, says report

Consumer sentiment waned in July this year due to decreasing optimism towards personal finances, business environment, employment and the real estate market, according to a Deutsche Boerse report.
"The MNI India Consumer Sentiment Indicator decreased 2.6 per cent on month-on-month basis to 111.6 in July, offsetting last month's pickup, which had left confidence running at a nine-month high of 114.7," it said.
The decline in consumer sentiment was led by a fall in consumers' assessment of long-term business conditions and a deterioration in households' expectations about their financial situation over the next year, the report noted.
Expected personal finances fell 4.2 per cent to a five -month low of 110.3 in July, while the current personal finances indicator was down 2.1 per cent to 104.4.

Consumers were less keen on spending on leisure activities over the next three months and also revised down their expectations for car purchases over the coming year, the report noted.
Consumers' views about the labour market over the next year worsened for the third consecutive month, with the employment outlook indicator falling to a series low of 100.1 in July.
However, the report noted that buying conditions for spending on big-ticket items improved for the third consecutive month.
Durable buying conditions rose to a 22-month high in July, while the indicators for buying conditions for IT products, phones and other appliances also increased between June and July.