The Reserve Bank of India has released the results of the May,2019 round of its Consumer Confidence Survey (CCS).
The survey was conducted in 13 Indian cities and was based on responses from several households.The survey indicates optimism above 100 and pessimism below that mark.
The survey seeks qualitative responses from households regarding their sentiments on (a)general economic conditions (b)overall price situation, (c)employment (d)income and (e)spending scenario.
The survey found that consumer confidence index has fallen to 97.3 from 104.6 in March,2019.The consumer confidence has dropped down due to the deterioration in sentiments on the economic situation and employment.
Further,sentiments returning to pessimistic category adds to the challenge of government which is trying to boost consumption and investments in the economy.
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