Consumer sentiment rose steadily and sharply over the past four weeks. At 104.8 for the week ended April 9, the consumer sentiment index recovered much of its losses in the recent past.
More importantly, this rise in the index is faster than even immediately after demonetisation.
The sentiment index had peaked at 109 in the week ended December 11, 2016. This peaking is generally interpreted as the initial euphoric reaction in households to the Prime Minister's bold demonetisation move in early November. Within four weeks of the announcement of demonetisation, the index scaled up over 10 per cent.
In comparison,
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper
