Growth in consumer sentiments had slowed down in March 2023. After having registered growth rates of 4-5 per cent during January and February, consumer sentiments inched up by a slower 1.2 per cent in March. Data for the first three weeks of April suggests that the growth in consumer sentiments may be 2-3 per cent higher than in March. The 30-day moving average consumer sentiments index as of April 23 was 2.8 per cent higher than its level in March. While this looks like a distinct improvement, the growth is, however, quite low compared to the performance in January and February. And, as we will see later, the growth is not entirely convincing.