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30/06/2022 04:42pm

Consumer sentiments slightly recover in June after continues fall from Feb-May: CMIE

image Consumer sentiments slightly recover in June after continues fall from Feb-May: CMIE

New Delhi, June 30 (KNN) After recording a fall in consumer sentiments in the last three months it has shown slight recovery in the month of June, as per the Centre for Monitoring Indian Economy (CMIE).

However the economic think tank has said that recovery in final consumption expenditure can be delayed due to an uneven and slow recovery. 

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As of June 26 the Index of Consumer Sentiment (ICS) was 1.3% higher than its level as of May-end after 3.7% dip in March, 3% fall in April and 0.8% decline in May, according to the CMIE.

In its weekly labour market analysis CMIE has said that although the index of consumer sentiments had increased by 4% and 5% in January and February 2022 respectively, the ICS of May 2022 was still 35.7% lower than its level in February 2020 with households being worst hit.

The research company said that the recovery of consumer sentiments is happening but at a very slow pace. 

“Moreover, this recovery has been decelerating in recent months and is skewed in favour of the rich,” CMIE said.

“The slowing down of consumer sentiments can delay the recovery in private final consumption expenditure and the disparity in its recovery has implications on the nature of the recovery,” it added.  (KNN Bureau)

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