Mumbai – According to the latest data by CNBC-TV18 Boston Analytics Consumer Confidence Index, the index for February stood at 77.6, showing a fall of 3 percent from January’s reading of 80. The report states that weaker spending plans, decreasing job security, reduced comfort in borrowing, and expectations of increases in interest rates have contributed to this slide in the index. The CNBC-TV18 and Boston Analytics Index consists of two sub-indices – the current situations index and the future expectations index. For the month of February, there has been no rebound in consumer spending and optimism. According to the report, the current situations index dropped 5.5 percent to 75.7 levels, while the future sentiments index dipped 2.9 percent to 77.8 levels. According to Dr. Sam Thomas, Boston Analytics director of research and development, the urban consumer in India continues to express significant concern about the future of the Indian economy. India’s slowdown could be deeper than expected currently by most economy watchers. CNBC-TV18 and Boston Analytics Index is designed to measure consumer confidence in India on a monthly basis and is derived from a monthly survey targeting about 10,000 respondents across 15 cities.