By Tricitynews Reporter
Chandigarh 07th September:- India consumer sentiment index fell by 4.62 per cent to 96.1 in August 2016, according to data on consumer sentiments by BSE and CMIE. Consumer sentiments regarding the current economic conditions fell by 5.25 per cent and consumer expectations regarding the future fell by 4.2 per cent.
BSE, the world’s fastest stock exchange with the speed of 6 microseconds and CMIE, India's leading business information company, had launched world’s first high-frequency data on unemployment and consumer sentiments in the month of April 2016. Urban consumer sentiments fell by 1.06 per cent in August compared to their level in July 2016. Consumer sentiments in urban areas regarding the current economic conditions deteriorated by 1.83 per cent and consumer expectations regarding the future worsened by 0.57 per cent for the month.
The index (base September-December 2015 = 100) of consumer expectations in August at 102.47 was much higher than the index of current economic conditions which was 98.73. The overall consumer sentiment index was 101.
In sharp contrast, consumer sentiments in rural India grew positively by 1.08 per cent during August 2016. While the index for rural current economic conditions grew by 0.46 per cent, the index for consumer expectations grew by 1.46 per cent.
Ashish kumar Chauhan, MD & CEO, BSE said that it is interesting to note that Indian consumers are more optimistic about their future than their own assessment of their current economic condition. This greater hope in the future is evident in both urban and rural regions. Thus, while the overall sentiments in rural and urban regions are divergent, their relative perception regarding their own future converges to unambiguous optimism.
Mahesh Vyas, MD & CEO, CMIE said that the sharp rural-urban contrasts in consumer sentiments reflect the divergent trends in the two regions today. While rural India rejoices the advent of the monsoon, urban India's sentiment is apparently impacted by the pressures of rising inflation and unemployment. BSE-CMIE-UMich's joint efforts at producing fast frequency measures seem to be providing useful insights into the current state of affairs of the Indian economy.
Unemployment rates are generated as a public good under a joint and private initiative of BSE and CMIE. This initiative produces the only monthly time-series of India's unemployment rate. It also produces a daily 30-day moving average series. For details please visitwww.bseindia.com or http://unemploymentinindia.cmie.com