Consumer sentiments depressed in December

Like the labour market stress is concentrated in urban India, consumer sentiments have also soured essentially in urban India

Labour markets and consumer sentiments seem to be subdued in December 2022. While there are six more days to go before the month ends and we get a clearer picture of the contours of the stress, trends in the weekly and the daily 30-day moving average estimations from CMIE’s Consumer Pyramids Household Survey indicate struggles in the labour markets and reservations about the current economic conditions among households.

Last week we had reported a rising trend in the unemployment rate in December. The increase began in October 2022 and continued into December. November 2022 had ended with a high unemployment