For India, the PCSI employment confidence and economic expectations sub-indices were seen to move up by 1.9 pps and 1.7 pps respectively, the sub-indices for current personal financial conditions and investment climate were down by 0.6 pp and 0.1 pp respectively.

“The Indian economy and been showing a lot of resilience and is largely defined by domestic consumption and though it has been on the radar of global companies for pumping in most investments, as India is a highly growth-oriented market," said Amit Adarkar, chief executive officer of Ipsos India in a company release. 

The sentiment around personal finances and for investments and savings continues to be somewhat depressed, and this could affect consumption around discretionary spends and put a strain on daily spends of households, he added.

India, Indonesia (63.2 pps) and Mexico (61 pps) are the only countries with a national index score of 60 or higher. Nine other countries now show a national index above the 50-point mark: Singapore (58 pps), Thailand (55.8 pps), the United States (54.3 pps), Sweden (54.1 pps), Great Britain (52.8 pps), the Netherlands (51.9 pps), Brazil (51.7 pps), Poland (50.3 pps) and Australia (50.3 pps).

In contrast, just four countries show a national index below the 40-point mark: South Korea (39.7 pps), Chile (39.6 pps), Japan (37.9 pps) and Turkiye (33.8 pps).

Compared to 12 months ago, seven countries show a significant drop in consumer sentiment. Twelve show significant increases.

Fibre2Fashion News Desk (DS)