kbo odds,The much-anticipated green shoots that the central government has often spoken about seem to be taking shape if the latest Purchasing Managers' Index (PMI) figures are anything to go by. Data released for the month of September showed that India's PMI rose to 53.7 from 52.3 in August representing the third consecutive month of expansion. Any PMI figure above 50 indicates an expansion in manufacturing activity.
What is particularly encouraging though is that much of the expansion appears to have been driven by growth in the consumer goods sector. From pulses to smartphones, the latest industry estimates show that the upcoming festive season may be seeing Indians shedding their aversion to spending. Sales of daily groceries, for instance, - widely touted as a strong indicator of consumer demand – rose by 1.1 per cent in September.
free rm10 918kiss,Although this may not seem like much, it bears mentioning that this is indicative of a marked trend reversal from the previous month (August) when it fell by 14.5 per cent. Bizom, which tracks some 7.5 million retail stores around the country, noted that month-on-month growth was fuelled by increased demand for commodities with local kirana outlets stocking up on staples and edible oils as they geared up for the advent of the festive season.
sd eibar,Bizom also noted that FMCG sales grew by 29.7 per cent on a year-on-year basis, reaching pre-pandemic levels. In the smartphones segment, volume growth was between 4 and 5 per cent. Home appliances have also seen a rise in volume growth by 5 to 8 per cent compared to August industry estimates as companies prepare for Durga Puja and Ganesh Chaturthi bumper sales.
So what exactly is responsible for the increased spending enthusiasm among Indian consumers? Some of it might have to do with the gradual easing of mobility restrictions across the country, prompting greater footfalls in malls and supermarkets. ,betfair blackjack
dafabet bet,What's more, according to data from the Union Health Ministry, India recorded under 20,000 COVID-19 cases for the second day running yesterday, with the active caseload also falling to its lowest in 194 days.
A rise in vaccine uptake and increased level of overall antibodies may also be responsible for the rise in consumer demand. What may appear slightly odd though, is that much of the rise in demand is attributable to those in rural areas and consumers earning between Rs 2 and Rs 5 lakh a year.
This, however, is not to say that the Indian economy is out of the woods just yet. The possibility of a third wave continues to loom menacingly over the country given that India is still some way from achieving its ambitious vaccination goals. Some analysts have also suggested that the current rise in consumer demand should be taken with a pinch of salt since the uptick could very well be due to the upcoming festive season.