The current situation index (CSI) improved further on account of better perceptions on general economic situation, employment and household income, the survey said.
Even though the CSI continued in negative terrain, it has improved considerably since the last round of the survey released in September 2022.
The CSI rose by nearly 3 points from 80.6 in September to 83.5 in November.
Meanwhile, future expectations index (FEI) also showed good improvement at 114.9. The index stood at 113 in September round of the survey. The FEI represents one year ahead outlook.
It is to be noted that an index value below 100 represents pessimism, while above 100 signals optimism.
“Households displayed lower pessimism on the prevailing employment conditions vis-à-vis the previous survey round; they were more optimistic on employment outlook,” the survey said.
The current sentiment on overall spending also remained close to its level in previous round of survey. The survey also noted that year-ahead outlook improved marginally.
In addition, the outlook on discretionary spending moved to positive terrain for the first time since the onset of pandemic, the survey noted.
Earlier in the day, RBI hiked the key repo rate by 35 basis points, the fifth straight increase since May, raising prospects of EMIs for home, auto and other loans rising further.
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