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Consumer spending falling down first time in over four decades

By IndianMandarins- 15 Nov 2019
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The impact of slowdown started reflecting as demand from rural areas declines as well with consumer spending falling down for the first time in more than four decades in 2017-18. The primary reason seems to be driven by slackening rural demand. This is what latest consumption expenditure survey by the National Statistical Office tells about the present situation.

The survey — Key Indicators: Household Consumer Expenditure in India — shows the average amount of money spent by a person in a month fell by 3.7 per cent to Rs 1,446 in 2017-18 from Rs 1,501 in 2011-12. The figures for monthly per capita consumption expenditure (MPCE) are in real terms, meaning these have been adjusted for inflation, keeping 2009-10 as the benchmark. In rural areas, it declined by 8.8% in 2017-18; in cities, it rose by 2% over 6 years.

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