India's urban consumer confidence edges up: survey

NEW DELHI Wed May 9, 2012 8:03pm IST

A customer enters a showroom at the Emporio mall in New Delhi September 9, 2008. REUTERS/Adnan Abidi/Files

A customer enters a showroom at the Emporio mall in New Delhi September 9, 2008.

Credit: Reuters/Adnan Abidi/Files

Related Topics

NEW DELHI (Reuters) - India's urban consumer confidence improved marginally in April, but concerns about the economy kept consumers pessimistic, a survey released on Wednesday showed.

The BluFin Consumer Confidence Index rose to 41.1 in April 2012, from 39.9 in March. The index recorded its lowest score of 35.8 in December 2011.

The index reflects pessimism below 50 and optimism above that, BluFin said.

The report comes after the RBI last month slashed interest rate for the first time in three years by a sharper-than-expected 50 basis points to boost the sagging economy. However, the survey said the rate cut failed to significantly revive consumer sentiment.

"The current positive trend will need to be validated by improvements in the coming months," said Rashid Bilimoria, chief executive of financial information provider BluFin.

A sub-index rating future expectations was 39, suggesting Indian urban consumers were still worried about the economy's prospects.

A declining growth rate, the slow pace of reforms, a widening deficit gap and a weak currency have contributed to a worries about India's economic outlook by investors and rating agencies alike.

(Reporting by Arup Roychoudhury)

FILED UNDER:
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (1)
Chamanlal wrote:
dont put up any survey. most of them unreliable

May 10, 2012 1:52pm IST  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

World Bank Rival

World Bank Rival

Three major nations absent as China launches W.Bank rival in Asia  Full Article 

Kashmir Package

Kashmir Package

Modi announces relief package for flood-hit Kashmir.  Full Article 

Microsoft Earnings

Microsoft Earnings

Microsoft sales beat Street hopes, cloud profits up.  Full Article 

U.S. Economy

U.S. Economy

Spectre of no-inflation world looms over Fed's return to normal  Full Article 

Insider Trading

Insider Trading

Rengan Rajaratnam, SEC to settle civil insider trading charge.  Full Article 

Market Watch

Market Watch

Betting on the beaten up? Investors pin hopes on stocks in Europe, Japan.  Full Article 

India Insight

India Insight

Kalki Koechlin on her role as a disabled girl in “Margarita, With a Straw”  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage