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ANZ-Roy Morgan Indian Consumer Confidence Touches New High in July
July 22 2015
- Finding No.
Consumer Confidence Press Release
This monthly ANZ-Roy Morgan India Consumer Confidence Index was based on 1,036 face-to-face interviews conducted throughout India. Men and women aged 14 and over were randomly selected during the month of July 2015.
ANZ-Roy Morgan India Consumer Confidence rose to 124.7 (up 1.3pts) in July – a new record high and well above the series’ (started in January 2014) average value of 117.1. It is also more than 10pts higher than it was in July 2014 (114.6). Driving this month’s small rise was increased optimism about India’s economy over the next 12 months and next five years.
ANZ Senior Economist South Asia & ASEAN, Devika Mehndiratta said:
- In terms of personal finances, 16% (unchanged from June) of the respondents said their families are ‘better off’ financially than a year ago compared to 31% (up 2ppts) who said their families are ‘worse off’ financially than a year ago.
- 41% (unchanged) of respondents said they expect their families to be ‘better off’ financially in a year’s time compared to 9% (down 1ppt) who expect to be ‘worse off’ financially.
- As for economic conditions in India going forward, 60% (up 4ppts) of the respondents expect India to have ‘good times’ financially in the next 12 months in contrast to 13% (down 2ppts) who expect ‘bad times’ financially. The latter is the lowest value recoded for the indicator since January 2015.
- Over the longer term, 60% (up 3ppts) of the respondents expect India to have ‘good times’ during the next five years. On the other hand, 7% (down 3ppts) expect ‘bad times’ financially, the lowest level recorded for the indicator since January 2015.
- A quarter of the respondents, or 25% (down 2ppts), said ‘now is a good time to buy’ major household items compared to 19% (up 3ppts) who said ‘now is a bad time to buy’ major household items.
“ANZ-Roy Morgan Indian Consumer Confidence picked up in July, reaching its highest since the start of the survey 18 months ago. Developments abroad may have had a hand in lifting sentiment in July - Sania Mirza’s win at the Wimbledon women’s doubles finals for one, might have been a feel-good factor along with the recovery in equity markets after a rocky start.
"Indeed, details behind the headline index suggest that the improvements have been driven more by consumers’ upbeat outlook for the Indian economy rather than increased optimism about their personal financial situations. Going ahead, one would expect the latter to eventually catch up, particularly if inflation expectations remain anchored, providing support to real income.”
Click to view the latest ANZ-Roy Morgan Indian Consumer Confidence Release PDF - July 2015.
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