Urban Rural Consumption: Good signs have started emerging from the domestic market. Heavy shopping during the festive season has provided good support to the sluggish market. Due to this, domestic urban and rural consumption has increased in September.
It reached its highest level in three months. Along with the festive season, monsoon has also had a good effect on it. While car and air travel remained dominant in urban areas, the purchase of tractors and motorcycles has increased significantly in rural areas during this period.
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Impact of festive season and monsoon visible
According to market experts, due to improvement in prices, festive season shopping and good monsoon, consumption in the country in September has been the highest in three months. The urban consumption index increased to 0.66 percent in September 2023.
It was at the level of 0.62 percent in August, 2023. However, the Urban Consumption Index touched the highest figure of 0.70 percent in May.
Cars sold heavily, air passengers increased
This increase in urban areas has come due to massive purchase of passenger vehicles and increase in the number of air passengers. Every year people want to buy cars during the festive season.
Also, during this period, people working outside also return to their homes. Therefore, the number of passengers in planes also increases significantly. During this period, retail inflation also remained under control. Therefore people remained excited to spend more money.
Great sale of tractors and bikes in rural areas
Consumption has increased rapidly in rural areas also during this period. It touched the level of 0.65 percent in September whereas in August this figure was 0.57 percent. This season, tractor sales increased a lot in rural areas. Besides, there was a huge jump in the sales of two-wheelers.
October and November figures will be more encouraging
From these data, companies can clearly understand the consumption pattern in urban and rural areas. With this, she can make her strategy for the future more intelligently. According to the data, retail inflation had fallen to its lowest level in four months in October.
Due to this, the figures for October and November will be more encouraging. Besides, it is also expected that interest rates will be cut next year. It’s Urban Rural Consumption.
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