New Delhi, Oct 6 (Agencies) : The Indian consumers' confidence in the overall economic situation and the employment scenario dropped to a six-year low in September, according to Reserve Bank of India (RBI)'s latest monetary policy, according to the report published by News18 media.
Both the current situation index and the future expectations index recorded declines, the RBI said in its consumer sentiment survey report. The Current Situation Index (CCI) dropped to 89.4 in September from 95.7 recorded in the July round of survey, the RBI data, released on Friday, showed.
News 18 media reports, Of the total respondents, 47.9 per cent said the general economic situation had worsened and only 33.5 per cent thought the situation had improved. About 53 per cent expected the situation to improve in one year.
A total of 52.5% felt the employment situation had worsened and 33.4% said the situation would only get worse in the coming year.
“Respondents perceived an increase in the price level over the last one year and a majority of them expect prices to rise further in the coming year; as a result, sentiments on overall spending as well as essential spending remain strong, though sentiments on discretionary spending weakened,” said the survey.
The survey was conducted in 13 major cities, among 5,192 households.