Not a happy festival season

The cumulative fall in the index over five weeks is a substantial 7.7 per cent

Household consumer sentiment continues to fall. The week ended September 3 was a fifth consecutive week of fall in the CMIE-BSE-UMich Index of Consumer Sentiment. Following the persistent fall, the index was also at its lowest when compared to its level in any of the preceding 25 weeks.

The index fell by 2.5 per cent during the week ended September 3. While this is a sharp fall, it is not an exceptionally unusual drop. Weekly changes in the index of consumer sentiments do wobble quite a bit. While the average weekly change in the index is 0.06 per cent, the