Consumers confident of nation's growth

The average consumer in Bangalore is confident that India will continue its economic growth at a faster pace than its neighbours and similar rated countries.

A significant minority do worry about job loss but most people say their jobs are not in serious jeopardy at the moment.

According to Bangalore-based Alliance Business Academy that conducted a survey during April-September, economic cycles are influenced by the consumers' subjective feelings of confidence.
Economists, businesses and policy-makers have a lot at stake in trying to understand how consumers feel about the economy now and its future prospects.

The people behind the survey that covered a stratified sample of households, industrial workers, students and traders, altogether 1,224 respondents, report that different sections of consumers face different situations, and perceptions vary.

For example, low housing loan rates India available can motivate many to buy a house. While increased house-buying is good for the economy, it is not necessarily a sign of consumer confidence.