Hope floats on rural recovery

The recent improvement in consumer sentiment is almost entirely a rural India story

Consumer sentiments seem to be turning around in July. The week ended July 18 was the third in a row when the Index of Consumer Sentiments registered an increase. Cumulatively, the index climbed 12.2 per cent over these three weeks since June 27. Consumer sentiments, badgered by the second Covid-19 wave, had been falling steadily from the beginning of April 2021. It fell more than 20 per cent from its recent peak of 58.5 on March 28 to a low of 46.5 on 27 June. This fall seems to have bottomed out in late June.

The recent improvement in consumer