Recovery in consumption became further entrenched in Oct-23 as measured by QuantEco Research’s proprietary TRUCE index with both, rural and urban consumption improving
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Dec 26, 2023
QuantEco Research || TRUCE Index - Rural demand leads consumption recovery in Oct-23
Rural consumption for yet another month registered a healthy sequential momentum, pushing the rural index to a series record high of 0.71. This was driven by improvement in agriculture credit growth, along with sales of two wheelers, tractors and fertilizers. Oct-23 marked the first time in as many as 2 years that rural index surpassed its urban counterpart. Urban consumption index rose to a 5-month high of 0.67 in Oct-23 from 0.65 in Sep-23, led by Passenger vehicle sales and Air passenger traffic in Oct-23.