Festive cheer lifts consumer mood

While consumer expectations grew in both rural and urban regions, the rate of increase was much higher in urban than in rural areas

Consumer goods companies were greeted with buoyant consumer sentiments at the beginning of the festive season of 2022. Ganesh Chaturthi festivities began on August 31 and continued till September 9. Onam festivities almost overlapped those of Lord Ganesha’s. Navratri spanned from September 26 through October 4. Therefore, September was packed with festivities across the nation.

According to CMIE’s Consumer Pyramids Household Survey (CPHS), during September 2022, the unemployment rate dropped to a four-year low of 6.3 per cent and the index of consumer sentiments rose to a 30-month high. Consumer sentiments rose by 7.1 per cent in September.

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