Consumer confidence levels currently at highest level in more than four years

Mumbai: Consumer confidence in India is currently at a four-year high. A survey conducted by the Reserve Bank has shown an improvement in sentiment regarding the general condition of the economy and employment, with consumer confidence continuing to improve in the current economic situation.

The Future Expectations Index, which provides a forecast of consumer sentiment for the next 12 months, has also improved since mid-2019, the survey report said.

The country's economic growth rate is estimated to be 7 percent in the financial year 2024-25, the Reserve Bank has said in its monetary policy review.

Another report said consumers also believe inflation will go down from current levels going forward. Capacity utilization level in the manufacturing sector increased from 74 per cent in the September quarter to 74.70 per cent in the December 2023 quarter.

RBI Governor Shaktikanta Das said after the monetary policy review meeting that the private capital expenditure cycle is improving and the outlook for investment activity looks bright.