expect employment, eco-conditions to improve: Report
Delhi, July 15: Inflation may be flirting with double-digit
figures, but Indians living in metros seem to be an optimistic
lot with most of them expecting the employment scenario as
well as the economic conditions to improve in the near term.
services firm Boston Analytics' Consumer Sentiment Index (BACSI),
a monthly barometer of consumer opinion regarding current
state and future expectations of the macro economy, household
financial conditions and consumption, has registered a nearly
three per cent increase in the level of over all optimism
for June stood at 96.9, up 2.9 per cent from the previous
months reading of 94.2. The rise is attributable primarily
to improvement of sentiment related to consumption plans,
employment and expectations from the future state of economy.
However, sentiment related to inflation remained very low
and acted as a significant offset, the survey stated.
index, based on a monthly survey conducted across Metrosdelhi,
Mumbai, Kolkata and Chennaitargets a diverse set of demographics
representative of Indian consumers. It addresses macro-level
variables reflecting the nation's economic conditions, including
indicators such as employment, inflation, interest rates,
and real estate.
BACSI employment sentiment index recorded a marginal increase
reflecting the expectation of a positive and robust hiring
job security, combined with consumers' increased confidence
about their ability to create alternative means of employment,
led to a marginal increase in the BACSI employment sentiment
index compared to last month.
index, which declined gradually from the beginning of the
year until May, increased by 4.9 per cent, from 71.1 in May
2008 to 74.6 in June 2008.