Televisionpoint.com Correspondent | Mumbai
CNBC-TV18, the leading English business news channel, along with Boston Analytics, one of the most renowned firms in research, will introduce the CNBC-TV18 Boston Analytics Consumer Confidence Index (CNBC-TV18-BA CCI), that is conceived with an objective of providing an in depth insight into the minds of the Indian consumers.
The CNBC-TV18-BA CCI is defined as the degree of optimism on the state of the economy that consumers are expressing through their activities of savings and spending. It is a crucial tool that enables the user to understand the consumer’s mind set and thus make an informed assessment about the future course of the economy.
The CNBC-TV18-BA CCI will be released every month and shall be based on a sample size of 10,000 respondents spanning 15 cities in India, thus making it one of the largest CCI in the world. The index will be based on the level of consumer confidence over time on various parameters like Current Situation, Future Expectations, Inflation, Employment, Consumer Spending, Savings and Real Estate.
Neel Chowdhury, vice-president, marketing, CNBC-TV18, said, “The CNBC-TV18-BA CCI will not only add a totally new dimension to our programming mix, but more importantly it will provide India Inc. with a tool to gauge consumer sentiment, a subject that holds the key to their fortunes.”
Rashid Bilimoria, CEO, Boston Analytics, says, “Any market driven economy is vastly influenced by consumer spending. For instance, in India, consumer spending accounts for over 60% of the GDP. This definitely explains the need to track consumer confidence in this country.”
The CNBC-TV18-BA CCI is based on a systematic desegregation architecture supported by economic theory to provide an effective measurement of the level and shifts in consumer sentiment in India over time. The index is composed of two sub-indices – Current Situation Index and Expectation Index.
Meanwhile, with the consumer confidence remaining at depressed levels, reports suggest that the economy could take longer to pull out of a downturn that is on track to be the longest and possibly deepest since World War II.
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