The Thomson Reuters IPSOS Primary Consumer Sentiment Index (PCSI) reveals a slight dip in Indian consumer confidence for July 2024. According to the latest data updated on July 12, 2024, the PCSI for India currently stands at 64.52, a modest decline from June’s figure of 65.17.
Month-over-month comparisons indicate a shift in consumer sentiment, as the index slipped by 0.65 points over the previous month. In June 2024, the index saw a higher standing compared to May, suggesting that while last month's data indicated stronger consumer confidence, recent developments have tempered optimism among Indian consumers.
The PCSI is a valuable indicator reflecting the overall economic sentiment and consumer confidence in the country. By comparing the current month's data with that of the previous month, analysts and policymakers can gauge short-term changes in economic perceptions and prepare for potential impacts on the broader economy.
