India 2nd On Consumer Sentiment Index In Nov

While India continues to figure among the most optimistic markets on national index score, consumer sentiment has shown a significant downward slide in November - Amit Adarkar, CEO of Ipsos

New Delhi: India has been placed second on the National Index score among 29 countries in November 2024, according to a report on Friday.

The LSEG-Ipsos Primary Consumer Sentiment Index India report maps consumer sentiment based on current conditions, expectations, investments, and jobs. It is based on a monthly survey of more than 21,000 adults under the age of 75 from 29 countries between October 25 and November 8.

The report showed that Indonesia (64.3) holds the highest National Index score, among the 29 countries, followed by India. Indonesia and India (61.0) are the only countries with a National Index score of 60 or higher.

Countries above the 50-point mark include Mexico (59.5), Malaysia (56.9), Singapore (56.7), the US (55.7), Thailand (54.8), Sweden (53.6), the Netherlands (52.7), and Brazil (51.9). Those below the 40-point mark are Japan (37.8), Hungary (33.9), and Tukiye (29.8).

“While India continues to figure among the most optimistic markets on national index score, consumer sentiment has shown a significant downward slide in November. Festivities and Diwali shopping have led to the post-festival gloom as citizens tend to splurge during Diwali a lot -- for clothes, sweets, eats, and the purchase of big-ticket items,” said Amit Adarkar, CEO of Ipsos.

The survey results should be viewed as reflecting the views of the more connected segment of their populations. India’s sample represents a large subset of its urban population -- social economic classes A/B/C in metros and tier 1-3 town classes across all four zones. The LSEG/Ipsos Primary Consumer Sentiment Index (PCSI), ongoing since 2010, is a monthly survey of consumer attitudes on the current and future state of their local economy, personal financial situation, savings, and confidence to make major investments.