Consumer sentiments expected to stay sluggish

It is more likely that elections and El Nino will add to the volatility of consumer sentiments

Growth in consumer sentiments had slowed down in March 2023. After having registered growth rates of 4-5 per cent during January and February, consumer sentiments inched up by a slower 1.2 per cent in March. Data for the first three weeks of April suggests that the growth in consumer sentiments may be 2-3 per cent higher than in March. The 30-day moving average consumer sentiments index as of April 23 was 2.8 per cent higher than its level in March. While this looks like a distinct improvement, the growth is, however, quite low compared to the performance in January and