Indian Consumer Spending Falls First Time in Four Decades: BS
A man holds Indian twenty rupee banknotes at a shop in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg) 

Indian Consumer Spending Falls First Time in Four Decades: BS

(Bloomberg) -- Consumer spending in India fell in the year through March 2018 for the first time in at least four decades, Business Standard reports citing an unreleased government report.

  • Each person surveyed spent an average 1,446 rupees in FY18, 3.7% lower than the 1,501 rupees in FY12: report
  • The govt report, which was approved for release by a committee in June, has been witheld by the statistical office due to “adverse” findings, the newspaper reports citing sources it doesn’t identify
  • NOTE: India’s Sluggish Animal Spirits Signal No Economic Recovery Yet

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