Consumer sentiment sees marginal rise in October: Report

Source: The Hitavada      Date: 03 Nov 2018 11:20:39


 

CONSUMER sentiment in India increased marginally in October as consumers remained upbeat about spending conditions despite turmoil in currency markets, says a report.

The GICI (Genesis India Consumer Indicator) - a monthly indicator tracking consumer sentiment pan India across personal finances, business conditions and buying conditions) increased slightly in October to 62.43 from 61.38 in September, nearly matching the record high levels seen in July.

A result above 50 indicates respondents are optimistic while a reading below 50 indicates that pessimists outweigh optimists. “Overall this was another positive survey showing consumer confidence close to the record high seen in July,” said Chief Economist of GMMR, Philip Uglow. Genesis Management and Market Research (GMMR) compiles GICI index.