Read on Twitter
1/ The 3rd consumer economy tracker by @CreditVidya is out! We're seeing the beginnings of a recovery in income and spending. Here are the highlights, but sign up on https://compass.creditvidya.com/ for more details.
#thread
#thread
2/ Consumption increased by over 12% in July, thanks to easing of the lockdown and opening up of businesses, including non-essential ones.
3/ Mass Market consumption levels increased 23% MoM, but are still 21% below pre #COVID19 times.
4/ Affluent segment consumption is now just 3.2% below the pre #COVID19 (Q4FY20) level.
5/ Predictably, earnings went up in July... but employment is still sluggish. The share of those with 0 earnings through the month stood at 6.1% ...almost at pre- #COVID19 (Q4FY20) level.
6/ The biggest difference between market segments is in Earnings. Mass Market earnings are still 22% below pre-Covid levels.
7/ @CreditVidya data on income matches #unemployment data from other sources. The higher increase in incomes in smaller towns is likely to be agri-related.
8/ We will soon be entering the peak festive season. This may help with recovery, but, it’s also likely to coincide with a peaking of #COVID19 cases in tier 2, 3 - where healthcare is less accessible.
Keep checking https://compass.creditvidya.com/ for updates.
/end of thread
Keep checking https://compass.creditvidya.com/ for updates.
/end of thread
