MNI India Consumer Indicator September 2013

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MNI India Consumer Indicator September 2013

  1. 1. London, 27 September 2013 MNI INDIA CONSUMER SENTIMENT EMBARGOED UNTIL 9.45 A.M. NEW DELHI TIME, 27 SEPTEMBER 2013 MNI India Consumer Indicator Fell to a Record Low of 115.9 in September Inflation Concerns Increase The MNI India Consumer Indicator declined for the fourth consecutive month in September, to the lowest level since the series started in November 2012 amid tepid economic growth, the weakness in the rupee and continued high inflation. The Consumer Indicator fell to 115.9 in September from 118.7 in August, nearly 9.0% down since the start of the year. Sentiment has trended downwards since November and has only posted monthly rises in two months, April and May. The decline was led by a sharp fall in the percentage of consumers who felt it was a good time to buy a large household item, likely due to the current economic uncertainty India has been facing. Four out of the five components of the Consumer Indicator fell in September, with Current Personal Finances the only indicator to rise in September compared with last month. Concerns over employment and inflation intensified with price expectations hitting a series high. Commenting on the latest survey, MNI Indicators Chief Economist Philip Uglow said, “With growth weak, prices rising and worries over employment intensifying, it wasn’t too surprising to see consumer sentiment hit a record low this month.” “Some stabilisation in the economic environment could stem the decline, but confidence is unlikely to increase significantly until growth picks up and inflation eases,” he added. - ENDS - MediaRelease
  2. 2. Page 2 MNI Indicators | Deutsche Börse Group MediaRelease For further information, please contact: Naomi Kim, Public Relations naomi.kim@deutsche-boerse.com +1 212 669 6459 Arno Castanet, Marketing arno.castanet@mni-indicators.com +44 (0)20 7862 7434 Editorial Content: Philip Uglow, Chief Economist, MNI Indicators Notes to Editors Please source all information to MNI Indicators. The MNI India Consumer Sentiment Survey is a wide ranging monthly survey of consumer confidence across India. Data is collected via telephone interviews. At least 1,000 interviews are conducted each month across the country. The survey adopts a similar methodology to the University of Michigan survey of U.S. consumer sentiment. The main MNI India Consumer Indicator is derived from five questions, two on current conditions and three on future expectations: 1) Current personal financial situation compared to a year ago 2) Current willingness to buy major household items 3) Personal financial situation one year from now 4) Overall business conditions one year from now 5) Overall business conditions for the next 5 years Indicators relating to specific questions in the report are diffusion indices with 100 representing a neutral level, meaning positive and negative answers are equal. Values above 100 indicate increasing positivity while values below show increasing negativity. About MNI Indicators MNI Indicators, part of Deutsche Börse Group, offers unique macro-economic data and insight to businesses and the investment community. We produce data and intelligence that is unbiased, pertinent and responsive. Our data moves markets. For more information, visit our website at www.mni-indicators.com.

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