Consumer sentiments recovering in July

After having scaled up by 5% in February, the index of consumer sentiment's growth rate fell in March, April and May 2022. In May and June 2022, it was a meagre 1%

July 2022 is poised to reverse what has been aa somewhat worrying trend in consumer sentiments since March 2022. Growth in the index of consumer sentiments (ICS) has been losing momentum in the past four months. After having scaled up by 5 per cent in February, the ICS’s growth rate fell in March, April and May 2022. In May and June 2022, it was a meagre 1 per cent. Now, in July, the ICS is likely to register a handsome growth. Some caveats, however, warrant that this reversal be considered with some caution.

As of July 24, 2022, the 30-day