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ANZ-Roy Morgan Indian Consumer Confidence Rebounded in June
June 24 2015
- Finding No.
Consumer Confidence Press Release
This monthly ANZ-Roy Morgan India Consumer Confidence Index was based on 1,042 face-to-face interviews conducted throughout India. Men and women aged 14 and over were randomly selected during the month of June 2015.
ANZ-Roy Morgan India Consumer Confidence Index rose to 123.4 (up 6.2pts) in June – almost completely reversing last month’s fall. The CCI is well above its long-term average of 116.7 and slightly higher than a year ago in June 2014 (122.4). All components of the survey drove this month’s rise in consumer confidence.
ANZ Senior Economist South Asia & ASEAN, Devika Mehndiratta said:
- In terms of personal finances, 16% (down 1ppt) of respondents said their families are ‘better off’ financially than a year ago (the lowest for this indicator since October 2014) compared to 29% (down 3ppts) who said their families are ‘worse off’ financially than a year ago (the lowest for this indicator since November 2014).
- The number of respondents who said they expect their families to be ‘better off’ financially in a year’s time was 41% (up 4ppts), compared to only 10% (down by 6ppts) who expect to be ‘worse off’ financially.
- When thinking of future economic conditions in India, 56% (up 3ppts) of respondents expect India to have ‘good times’ financially in the next 12 months compared to 15% (down 4ppts) who expect ‘bad times’ financially.
- Over the longer-term, 57% (unchanged) of respondents expect India to have ‘good times’ during the next five years, while 10% (down 5ppts) expect ‘bad times’ financially.
- The number of respondents who said ‘now is a good time to buy’ major household items was 27% (up 1ppt), compared to just 16% (down by 6ppts) who say ‘now is a bad time to buy’ major household items (the lowest ever recorded for this indicator).
“The pull-back in India’s consumer confidence reversed in June, taking it close to an all-time high since 2014. A host of factors were likely responsible for this rally – the recent recovery in equity markets and local currency as well as the good progress of the monsoon after an initial pause.
"Monsoon concerns aren’t entirely out of the window, however, and hopefully the recent good run continues through July, a key month for the sowing of summer (kharif) crops.
"Another issue that may weigh on sentiment, albeit temporarily, is the ongoing and much televised allegations against the Modi government about political favours for the controversial former Commissioner of the Indian Premier League (IPL).
"Overall, we expect Indian consumers to retain their optimistic bent.”
Click to view the latest ANZ-Roy Morgan Indian Consumer Confidence Release PDF - June 2015.
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The latest Roy Morgan Consumer Confidence Monthly Report is available on the Roy Morgan Online Store. It provides demographic breakdowns for Age, Sex, State, Region (Capital Cities/ Country), Generations, Lifecycle, Socio-Economic Scale, Work Status, Occupation, Home Ownership, Voting Intention, Roy Morgan Value Segments and more.
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