Consumers turn gloomy about economic situation, employment: RBI survey

Perceptions on the general situation and employment softened, finds survey

Indian consumers are generally getting less optimistic about the economic situation, employment, and fear price rise over the year ahead, according to surveys released by the Reserve Bank of India (RBI).

The RBI’s consumer confidence “declined in July as reflected in the current situation index (CSI); the future expectations index (FEI) fell by about 4 points,” the RBI said. 

“Consumers’ perceptions on the general economic situation and the employment scenario softened, while their assessment of their own incomes turned out to be less optimistic than in May 2019.”

Responses totaling 5,351 in 13 major cities perceived a rise in the price level and