India's consumer confidence remains strong, securing the second position globally in December, according to the latest LSEG-Ipsos Primary Consumer Sentiment Index (PCSI). The survey, which tracks consumer confidence across 30 major economies, revealed India's National Index score at 59.3. Despite a slight dip of 1.7 percentage points in overall consumer sentiment during the month, India's ranking underscores the resilience of Indian households amidst global and domestic economic pressures.
Indonesia leads the global rankings with a National Index score of 63.4, making it the only country to surpass the 60-point mark. Following India are Malaysia, Singapore, and Sweden, while Hungary and Türkiye have the lowest scores, falling below 40. The data emphasizes India's relative strength in a period characterized by heightened global uncertainty.
Suresh Ramalingam, the chief executive of Ipsos India, stated that 2025 has been a challenging year for India, influenced by a combination of global and domestic factors. He cited geopolitical conflicts, shifts in trade policy, and job cuts by multinational companies as key factors. Domestic challenges, including job losses, climate-related disruptions during the monsoon season, and macroeconomic pressures such as currency depreciation, have also impacted sentiment. Despite these challenges, consumer confidence suggests that Indian households are adapting to the volatility.
The sub-indices of the PCSI present a mixed picture. The Economic Expectations sub-index experienced a sharp decline of 5.6 percentage points in December, signaling caution regarding the near-term economic outlook. The Employment sub-index also decreased by 6.2 percentage points, reflecting concerns about job prospects as the year concludes. In contrast, the Investment Climate sub-index showed a marginal increase of 0.6 percentage points, indicating a slight improvement in the willingness to invest. The Current Personal Financial Conditions sub-index experienced a slight decrease of 0.4 percentage points.
Ramalingam pointed out that hiring activities typically slow down towards the end of the year, which contributes to employment concerns. He also noted that policy measures such as the 25 bps Repo Rate cut by the RBI and the GST rate rationalization in September have provided support for consumption and discretionary spending. India's GDP growth of around 7.0 per cent in 2025 has also provided a buffer, even as consumers remain cautious amid volatile global conditions.
The LSEG/Ipsos Primary Consumer Sentiment Index (PCSI) for December 2025 in the United States is at 51.9. The Index is based on a survey conducted between November 21 and November 26, 2025. The Current Index reads at 43.4, stable (+0.2 point) from last month. The Expectations Index reads at 58.1, up 1.5 points this month. The Investment Index is at 45.0, unchanged from November. The Jobs Index reads at 63.0, stable (+0.1 point) from November.
