Survey Methodology

The full sample of 161,183 households is surveyed over a four month period. Therefore, the most comprehensive measure of consumer sentiments can be produced at the end of execution of the survey over all these households. However, the execution of the survey is planned and executed in a manner that enables the estimation of consumer sentiments at a monthly frequency also. The sample size of 40,300 household per month is well distributed over the country to enable the estimation of monthly consumer sentiment indices.
Further, execution of the monthly sample is well-distributed over rural and urban regions to enable a weekly estimation of consumer sentiments at the all-India level. About 10,100 households are surveyed every week.
Our ultimate goal is to be able to generate daily consumer sentiment indices since the sample size of about 1,400 households and its distribution does raise the possibility of doing so.
Besides the large sample, technology and precision in execution enable the production of daily consumer sentiment indices. However, as a matter of caution, we begin with the estimation of a 30-day moving average measure.
We compute the 30-day moving average of consumer sentiment indices in India every day, using the data collected during the preceding 30 days. Detailed description of the survey design, the data file, estimation methodology, the R program and a sample data file is provided separately to ensure complete transparency.