Consumer Confidence Continues To Improve From Record Low

The Reserve Bank released the results of its Consumer Confidence Survey (CCS) for the November 2021 round. Consumer confidence continued to improve from the historic low recorded in July 2021 though the assessment for the current period remained in pessimistic terrain; the current situation index (CSI) increased to 62.3 in November 2021 from 57.7 in the previous survey round. The perception for general economic situation, employment scenario and household income displayed signs of recovery. Households were more confident for the year ahead, which was reflected in the continued upward trajectory of the future expectations index (FEI), buoyed by higher optimism for household income and employment scenario. With higher expenditure on essential items, households perceived a rise in overall expenditure; sentiments on non-essential expenditure, however, continue to be pessimistic and did not reflect improvement over the coming year.

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