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Boston Analytics and CNBCTV18 Release New Indian ConsumerConfidence...

Today CNBC TV18 and Boston Analytics released the CNBC-TV18 Boston Analytics Consumer Confidence Index for April 2009. The index is designed to measure consumer confidence in India on a monthly basis. The index is derived from a monthly survey targeting nearly 10,000 respondents across fifteen Indian cities, which makes it the largest and most comprehensive exercise of this kind in the country.

The index is a monthly barometer of the opinion of Indian consumers regarding the current state and future expectations of the macro economy, household financial conditions and consumption. The index is computed from responses to 25 questions covering various variables known to affect consumer confidence. These variables pertain to general economic conditions, employment, inflation, interest rates, real estate, household financial conditions, household income, household spending plans, and savings.

The CNBC-TV18 Boston Analytics Consumer Confidence Index for April stands at 74.1, representing a slight increase of 0.8% from March'ss reading of 73.5. This month'ss numbers were driven by expectations of improvement in general economic conditions and household financial conditions.

The CNBC-TV18 Boston Analytics Consumer Confidence Index consists of two sub-indices - the Current Situations Index and the Future Expectations Index. The Future Expectations Confidence Index is now higher than the Current Situation Confidence Index for the fourth consecutive month. The trend suggests that the consumer is expecting things to get better in the next 12 months. The Current Situation Confidence Index has flattened out in the last month recording an almost insignificant rise of 0.14% from 71.3 in March 2009 to 71.4 in April 2009. The Future Expectations Confidence Index increased by 0.65% from 77.1 March 2009 to 77.6 in April 2009.

The CNBC-TV18 Boston Analytics Consumer Confidence Index has been showing a downward trend for the last twelve months (since its first sharp fall in March 2008). It is important to note that April'ss increase in consumer confidence is attributable primarily to declining (but improving) pessimism about expected inflation, and expected job security. However, sentiment pertaining to consumer spending remains very weak.

Our April survey shows that the Indian consumer is expressing hope, at least in sentiment, that current economic stimulus along with promises of economic policy changes being made during the current election campaign may improve future economic conditions said Dr. Sam Thomas, Ph.D., Director of Research and Development at Boston Analytics. However, it is important to note that the bounce in the April reading is from very low levels of sentiment and driven by hope that the general economy will improve. The April reading does not yet indicate a change in trend regarding the personal circumstances of the consumer. In particular, the consumer remains significantly pessimistic about the job market and spending plans on durable goods. They also remain convinced that retail prices are still too high.

About the CNBC-TV18 Boston Analytics Consumer Confidence Index

The index is designed to measure consumer confidence in India on a monthly basis. The index is derived from a monthly survey targeting 10,000 respondents across fifteen Indian cities--Delhi, Mumbai, Kolkata, Chennai, Hyderabad, Bangalore, Ahmedabad, Chandigarh, Nagpur, Kochi, Jaipur, Lucknow, Bhubaneswar, Patna, and Vishakapatnam. The sample is stratified based on the socio-economic characteristics of the Indian population in order to ensure sufficient sample sizes for sub-groups of interest. All data are collected via face-to-face interviews.

The index is computed from responses to 25 questions covering various variables known to affect consumer confidence. These variables pertain to general economic conditions, employment, inflation, interest rates, real estate, household financial conditions, household income, spending plans, and savings. The index value in January 2008 was set to 100 to serve as the starting benchmark value of the time series. Inspired by the product design and index computation methodologies of consumer sentiment and consumer confidence indices across the world, the index has been adapted to the Indian economy'ss unique conditions.

About CNBC-TV 18: CNBC-TV18 is the undisputed leader in the business. The channel'ss benchmark coverage extends from corporate news, financial markets coverage, expert perspective on investing and management to industry verticals and beyond. CNBC-TV18 has been constantly innovating with new genres of programming that helps make business more relevant to different constituencies across India. CNBC-TV18 is currently available in over 30 million households in India

About Boston Analytics: Boston Analytics provides its corporate, consulting and financial clients the most current, accurate and actionable research and analysis--so they can be the first to uncover and exploit opportunities. The firm'ss work powers knowledge processes and enables effective decisions at all levels of its clients's businesses. Boston Analytics brings together leading analytical minds worldwide, delivers robust offerings of knowledge services, and works as a genuine partner. Boston Analytics is headquartered in Boston with offices in New York, London, and Mumbai. For more information visit www.bostonanalytics.com

Monthly reports-Executive Summary and Full Report and the Data Sets--Nationwide Aggregate and City-wise Disaggregate Data are available for purchase from Boston Analytics at BA India Watch (http://www.bostonanalytics.com/india_watch/india_watch.html)

Contact: Samir Bhatia. Tel: 617 457 7888 Ext 226

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