Consumer Confidence Survey March 2024: RBI Report

Consumer Confidence Survey March 2024: RBI Report

Recently, RBI has released the results of the bi monthly Consumer Confidence Survey March 2024. The latest Consumer Confidence Survey round was conducted from 2nd March to 11th March 2024. In the latest Survey round there were around 6,083 respondents. Among the total respondents of the latest survey round the female participation accounted for 50.8 percent.

What is the Consumer Confidence Survey?

Consumer Confidence Survey is a bi monthly Survey conducted by the Reserve Bank of India. The Survey collects the data of the perceptions of households across major 19 cities and it also collects the data of one year ahead expectations of the households of these major 19 cities on some topics such as General economic situations, unemployment situations, overall price scenario and own income and spendings.

Highlights of the Consumer Confidence Survey March 2024:

• Consumer Confidence in the current period showcased the positive and sustained recovery. There is improvement in all the parameters of the Consumer Confidence Survey. According to the report, the current situation index witnessed a rise by 3.4 points to 98.5 and it is the highest level since mid of the year of 2019.
• Consumer Confidence for the year ahead also witnessed optimism and improved in all parameters. Due to the higher optimism, the future expectation index also rose by 2.1 points to 125.2, highest since mid 2019.
• If we talk about the general economic situations and employment scenario, households’ expectations and perceptions highlighted positive improvement both for the current period as well as the upcoming year.
• If we talk about the income situations, the respondents assessed a better income scenario as compared to last year and have greater expectations for the upcoming year.

Conclusion:

As per the latest Survey round of the Consumer Confidence Survey conducted by the Reserve Bank of India, the current situation of the households regarding various economic factors highlights positivity for the current period as well as for the upcoming year.

Important Questions:

• What is the Consumer Confidence Survey by the Reserve Bank of India?
• Describe the important points of the latest Consumer Confidence Survey March 2024.

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