Consumer Confidence Index and Economic Growth- Indian Context after the Covid-19

Abstract

The Consumer Confidence Index (CCI) holds significant importance in providing insights to policymakers and economic forecasters regarding the present and future state of the economic. These indices wield a unique influence on shaping both governmental and business decisions. The consumer confidence index serves as a barometer of the optimism consumers feel about the state of the economy, as evidenced by their saving and spending patterns, which in turn contribute to the growth of the national economy. This study relied on secondary data obtained from the Reserve Bank of India (RBI) website. The data encompassed rounds 67 to 69, covering the time period of July, September, and November 2022. The research employed various analytical techniques, including frequency analysis, chi-square analysis, and ANOVA analysis in this study. The variables such as Educational qualification, Occupation, monthly income, Economic conditions compared to last one year and Household income of the respondent are used to achieve the objective. From this study, it is found that there is an association between the respondent monthly income & their educational qualification and monthly income & their number of members in the family. But Anova analysis show that there no difference between the respondent's perception on their economic condition and household income. It indicates that all the respondents in this study perceived same that there is no much improvement in their economic conditions and household income.