Sales rebound as consumer demand revives
NEW DELHI: The consumer economy seems to be firing on all cylinders once again. From automobiles to packaged consumer goods makers, companies are poised to report strong, doubledigit growth in sales for the third straight quarters in the three months ended June, the first quarter of the current financial year.
That’s a sure sign that the manufacturing economy has overcome the lingering aftershocks of the November 2016 invalidation of high-value bank notes and the July 2017 implementation of the Goods and Services Tax (GST), according to economists.
“The first quarter figures will reaffirm a sustained pickup in demand in most consumptionlinked sectors,” said Prasad Koparkar, senior director, Crisil Research, an arm of the credit rating company Crisil.
The uptick is likely to be a leg-up for the Bharatiya Janata Party-led National Democratic Alliance government in the run-up to general elections that are less than a year away. Robust sales of mass-consumed items mean higher demand for manufactured goods.
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