3 Robust agricultural growth does not seem to be helping rural wages
While agricultural sector continues to post strong growth, despite some extreme weather events, the 4.6% print in September print for GVA in agricultural and allied activities is the highest since March 2020 has not boosted earnings for rural labourers. Real rural wages contracted for the tenth consecutive month in September 2022, the latest moth for which data is available. When read with the contraction in manufacturing output in the September quarter, this raises a question whether the weakness in rural labour markets is a reflection of weak urban demand.