As per QuantEco Research’s TRUCE* Index, domestic consumption moderated marginally in Feb-24.

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Apr 26, 2024

QuantEco Research || Feb-24 TRUCE Index - A marginal dip

While Urban TRUCE index slipped to 0.65 in Feb-24 from an 8-month high of 0.67 in Jan-24, the rural TRUCE index eased by a greater margin to 0.57 in Feb-24 from 0.62 in Jan-24. Urban consumption was largely steady with marginal declines (in absolute numbers) recorded for air passenger traffic, passenger vehicle sales and petrol consumption in the month. The downside was cushioned by the moderation in urban CPI inflation in Feb-24.  On the other hand, the weaker rural consumption was owing to seasonal dip in sales of tractors as well as fertilizer. Notwithstanding the marginal deceleration recorded in Feb-24 TRUCE index, early lead indicators do point towards upside in consumption momentum in Mar-24. Incremental data for passenger vehicle, two-wheeler and tractor sales along with petrol consumption appear supportive.