Sentiment beyond electoral and government data hype

It is evident that consumer sentiment turned sour after the initial surge

The BSE-CMIE-UMich Index of Consumer Sentiments tanked sharply by 5.2 per cent during the week ended March 5 after falling by 3.4 per cent fall in the preceding week. At 89.08, the index is at its lowest since its launch 62 weeks ago in January 2016.

It is evident that consumer sentiments turned sour after the initial surge in hopes post demonetisation.

The index had peaked at 108.98 in the week ended December 11, the fourth week after demonetisation. Then the disappointment started to set in, although there was a brief pause just before the Prime Minister's speech on December