Are India's consumption hiccups signalling stress?

Quick Summary:

India's urban middle class is cutting back on spending due to inflation and unemployment, revealing weakness in urban demand for the second consecutive quarter.

Major companies like Hindustan Unilever and Reliance's retail unit have reported softer consumption, impacting their earnings and the broader economic outlook.

With post-pandemic euphoria fizzling out, higher interest rates, muted wage growth and poor job prospects are hurting urban demand.

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Article Details

Author / Journalist: Bloomberg

Category: EconomyBusiness

Markets: IndiaChina

Topics: India consumption Hindustan Unilever Urban middle class Reliance retail Consumer spending

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 03:29:37 (9 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 634 words

Reading Time: 4 minutes read

Sentences: 22 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 23354216

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About Times of India

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

Update Frequency: 15 posts per day

Year Established: 1838

Headquarters: India

News Last Updated: 8 hours ago

Coverage Areas: India

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Publication Timezone: GMT +5:00

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News Language: English

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Publisher ID: #28

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