Consumer sentiment dips for 3rd straight month

Posted By: Religare
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Consumer sentiment in India eased for the third consecutive month in November largely due to a sharp fall in expectations of business conditions in a Year's time, said the media report.

The gauge measuring consumer sentiments in India fell by 2.8 points to 120.9 in November from 123.7 in October, the lowest in 13 months, said a report.

Consumer sentiment dips for 3rd straight month
"The Modi government has been in office for six months, but there has so far been little lasting positive impact on consumer sentiment. Policy action may eventually feed through, although for now the outlook remains reasonably subdued," MNI Indicators Chief Economist Philip Uglow said.

The report said many respondents praised Modi's vision for India and were supportive of welfare schemes like Jan Dhan Yojna. Additionally, a significant portion of respondents were pleased that food and fuel inflation was falling.

"Good news for the central bank was that inflation expectations fell to a new record low in November. This will help the RBI to ease monetary policy in the first half of 2015," it said.

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