Consumer sentiments to remain buoyant

Small traders and daily wage labourers had recorded a sharp 22 per cent increase in their ICS between June and September 2022

Consumer sentiments corrected by 2.6 per cent in the last two months of 2022. In the preceding two months, September and October, sentiments had improved by 13.6 per cent. The impressive improvement in sentiments during September and October 2022 reflects the festival season effect in India. A post-festival season correction was expected. It is interesting to note that the correction was small compared to the gains in sentiments during the season. On a net basis, consumer sentiments seem to have gained by over 10.7 per cent since the festival season.

Sentiments continue to improve in January. By January 22, 2023,