New Delhi, October 24 (IANS). Consumer sentiment in India has registered an increase of 1.4 percentage points in October this year due to the recent GST reforms and the beginning of the festive season.
A report by market research firm Ipsos said the festive season along with GST reforms helped households increase their savings and their ability to spend as per their own wishes.
According to the report, a positive change has been seen in India’s National Index Score. This change reflects widespread optimism about jobs, personal finance, investment and the economy.
At the regional level, consumer sentiment was positive in Asia-Pacific, with Indonesia seeing the highest increase of 6.5 percentage points. After this, there was an increase of 3.6 points in Thailand, 2.6 points in South Korea, 2.1 points in Malaysia and 1.4 points in India. In contrast, consumer sentiment declined in Australia and Japan, falling 2.1 and 2.0 percentage points respectively.
The results are based on survey data conducted every month by Ipsos in 30 countries on its Global Advisor online survey platform and in India on its IndiaBus platform.
Indonesia’s National Index score of 58.8 is the highest among the 30 countries surveyed, reflecting a strong 6.5 percentage points month-on-month gain in consumer sentiment, the report said. At the same time, India is in second place with a National Index Score of 58.4, which shows an increase of 1.4 points compared to the previous month.
According to the report, out of the total countries included in the survey, 11 countries have recorded a National Index score of 50 or more, which shows strong consumer confidence. Apart from India, these countries include Malaysia, Sweden, Brazil, Mexico, Thailand, United States, Netherlands, Singapore, Australia and Poland.
–IANS
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