Mumbai: The March report of the LSEG-Ipsos Primary Consumer Sentiment Index (PCSI) for India is loaded with happy tidings. The consumer sentiment has recovered and is up, +2.2 percentage points. The sentiment is up across the 4 sub indices, with a significant jump in sentiment around the economy and jobs. And India has moved two places up to emerge the top most market on national index score, among 29 countries covered in the survey.
In March 2025, the LSEG-Ipsos PCSI shows recovery and surge in consumer sentiment, at the overall level of +2.2 percentage points. In case of the 4 sub indices, the PCSI Economic Expectations (“Expectations”) Sub-Index has shown a jump of +5.6 percentage points, likewise, the PCSI Employment Confidence (“Jobs”) sub-index has surged +4.4 percentage points. The Current Personal Financial Conditions sub index (Current Conditions) is up +0.9 percentage points, and the PCSI Investment Climate (“Investment”) sub-index has shown a minor uptick of +0.2 percentage points.
The Global Consumer Confidence Index is the average of all surveyed countries’ Overall or “National” indices. This month’s installment is based on a monthly survey of more than 21,000 adults under the age of 75 from 29 countries conducted on Ipsos’ Global Advisor online platform. This survey was fielded between February 21 and March 7, 2025.Consumer sentiment in 29 countriesAmong the 29 countries, India (60.2) holds the highest National Index score. It is the only country with a National Index score of 60 or higher.
Nine other countries now show a National Index at or above the 50-point mark: Indonesia (58.5), Malaysia (58.4), Mexico (58.1), Singapore (57.1), the Netherlands (54.8), Sweden (54.5), the U.S. (54.0), Australia (52.4), and Thailand (52.3).In contrast, four countries now show a National Index below the 40-point mark: South Korea (39.4), Hungary (35.8), Japan (35.7), and Türkiye (35.0).Summarizing on the findings of the survey, Amit Adarkar, CEO, Ipsos India said, “The economic indicators are positive, fueled by domestic demand and resilience displayed by India Inc, despite the tough global macro indicators and the environment. Hiring is also picking up with the job index displaying a major upswing. These are good signs, as 2024 was an extremely tough year for both jobs and the economy, as the world grappled with the polycrisis of wars and global economic slowdown. Also in March 2025, we are seeing consumer sentiment improving around personal finances and for investments, savings and discretionary spends. This momentum is likely to continue through the bumper harvest season in April.”
About the StudyThese findings are based on data from a monthly 29-country survey conducted by Ipsos on its Global Advisor online survey platform and, in India, on its IndiaBus platform. They are first reported each month by LSEG as the Primary Consumer Sentiment Index (PCSI).
The results are based on interviews with over 21,200 adults aged 18+ in India, 18-74 in Canada, Israel, Malaysia, South Africa, Türkiye, and the United States, 20-74 in Thailand, 21-74 in Indonesia and Singapore, and 16-74 in all other countries.The monthly sample consists of 1,000+ individuals each in Australia, Brazil, Canada, France, Germany, Great Britain, Italy, Japan, Spain, and the U.S., and 500+ individuals in each of Argentina, Belgium, Chile, Colombia, Hungary, Indonesia, Israel, Malaysia, Mexico, the Netherlands, Peru, Poland, Singapore, South Africa, South Korea, Sweden, Thailand, and Türkiye. The sample in India consists of approximately 2,200 individuals of whom 1,800 were interviewed face-to-face and 400 were interviewed online.Samples in Argentina, Australia, Belgium, Canada, France, Germany, Great Britain, Hungary, Italy, Japan, the Netherlands, Poland, South Korea, Spain, Sweden, and the U.S. can be considered representative of their general adult populations under the age of 75. Samples in Brazil, Chile, Colombia, Indonesia, Israel, Malaysia, Mexico, Peru, Singapore, South Africa, Thailand, and Türkiye are more urban, more educated, and/or more affluent than the general population. The survey results for these countries should be viewed as reflecting the views of the more “connected” segment of their populations. India’s sample represents a large subset of its urban population — social economic classes A/B/C in metros and tier 1-3 town classes across all four zones.The data is weighted so that the composition of the sample in each country best reflects the demographic profile of the adult population according to the most recent census data. The global indices and averages reported here reflect the average result for all the countries and markets in which the survey was conducted. They have not been adjusted to the population size of each country or market and are not intended to suggest “total” results.Sample surveys and polls may be subject to other sources of error, including, but not limited to coverage error and measurement error. The precision of Ipsos online surveys is calculated using a Bayesian credibility interval with a survey of N=1,000 being accurate to +/- 3.5 percentage points and a survey of N=500 being accurate to +/- 5.0 percentage points. For more information on credibility intervals, visit this page. |
The LSEG/Ipsos Primary Consumer Sentiment Index (PCSI), ongoing since 2010, is a monthly survey of consumer attitudes on the current and future state of their local economy, personal financial situation, savings, and confidence to make major investments. The PCSI metrics reported each month for each of the countries surveyed consist of a “Primary Index” based on all 10 questions below and of several “sub-indices” each based on a subset of these 10 questions.The publication of these findings abides by local rules and regulations.