Nearly 60% Indians see economy recovering in next 2-3 months: Survey

Indian consumers are being careful with their spending and are cutting back across most categories, according to a survey by McKinsey & Company



McKinsey & Company carried out a consumer sentiment survey in India over three different periods. Each survey highlights a different aspect. The latest survey was conducted from April 10-13, prior to this it was conducted from April 2-6 and from March 27-30 as the extent of the virus began to unfold globally


Data suggests that with each passing week, consumer confidence is rising as the economy recovers after novel coronavirus, or COVID-19, led lockdown. As per the latest survey, nearly 60 percent Indians are optimistic about an economic recovery in two-to-three months.


Over 50 percent Indians continue to feel that there will be a loss in income and cut in savings while spending shrink further.



Indian consumers expect to spend more time engaging with live news, movies, reading news online and video content. Time spending in reading for personal interest and print news is likely to decline further.



Over 85 percent of surveyed Indians believes that the personal and financial impact of COVID-19 will last longer than two months



Data suggest that In India, the safety of family and overall public health is one of the top five concerns related to coronavirus. 85% of Indians are very or extremely concerned about their personal or family safety.



Source: https://www.moneycontrol.com/news/india/nearly-60-indians-see-economy-recovering-in-next-2-3-months-survey-5228791-4.html

May 06, 2020

13 views
Mindcept-Logo.png

© MINDCEPT CONSULTING

  • Black LinkedIn Icon

DISCLAIMER: The information contained in this website is offered for illustration purposes only and is general information. We make no representations or warranties of any kind (express or implied) with respect to the information, products, services, statements, figures, calculations, plans, images, logos, related graphics and are purely indicative in nature only. Whilst all reasonable care has been taking in providing all information, however, We or / and our related companies or/ and our representatives, consultants or / and our agents accept no responsibility for its completeness, accuracy, reliability, suitability or availability of any information contained herein for any action taken in reliance thereon by any party. Any reliance on information as contained in this website does not constitute an offer, inducement, representation, warranty or contract and may be relied upon at one’s risk and consequences.